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Tbilisi. February 7. INTERFAX-REAL ESTATE - Georgian company Georgian Ventures & Investment and Arab Salim Ali Al Shamsi Real Estate (UAE) plan to build a mini-city Saguramo Gardens near Tbilisi with all the relevant infrastructure, the manager of the Arab company Akbar Qureshi told reporters on Tuesday.
According to him, an area of 35 hectares is allocated for the joint project in Saguramo. It is planned to build residential buildings and individual villas, a four-star hotel, restaurants and cafes, a medical center, shopping, sports and other facilities, including a recreation park and a wedding palace.
"At this stage, a tender is underway to select construction contractors who will start work in a few months," A. Qureshi said.
He added that the project of the mini-city Saguramo Gardens, designed for 5 thousand residents, is expected to be implemented in about four years. At the same time, referring to confidentiality, he did not name either the total investment value of the project, or the equity participation of Arab and Georgian companies in it.
Salim Ali Al Shamsi Real Estate was founded in 1990 and so far has carried out projects mainly in the UAE and Saudi Arabia.
Georgian Ventures & Investment is currently building a year-round eco-health center in the resort village of Pasanauri, 88 km from Tbilisi. In the future, the company intends to develop a network of such centers in Georgia.