Krtsanisi Villa Residence invests $200 mln to develop residential district in Krtsanisi
The new district includes 12 ha in the historical part of Tbilisi, which is only six kilometers from Freedom Square. An artist impression from the project description.
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Georgian company Krtsanisi Villa Residence is investing $200 million to continue the development of the modern residential district on Krtsanisi Street in the capital city of Tbilisi, Krtsanisi Villa Residence.
The new district includes 12 ha in the historical part of Tbilisi, which is only six kilometers from Freedom Square.
The project has already successfully progressed on five hectares. Due to the demand for the project, the company has made a multi-million investment and purchased 12 hectares of land. The company continues to implement an innovative project", states the company.
An artist impression.
The new project will include residential space in addition to educational, sport, recreation and entertainment infrastructure.
70% of the district is the recreation area, around and adjacent to which there is a swimming pool, fitness halls, mini golf squares, tennis courts, football and basketball squares. This project also includes the commercial building, with a huge hypermarket, cafes, saloons, shops, working areas, closed swimming pool and fitness centre", reads the project description.
An artist impression.
Georgian Prime Minister Irakli Garibashvili, who attended the project presentation ceremony yesterday, said that this project will have a positive impact on the country's overall investment climate.
$200 million in investments, about 100 subcontractors, and thousands of our citizens employed; Krtsanisi Resort Residence will be a project to look up to, one setting new standards in our capital. Equally importantly, the project will have a positive impact on the country's overall investment climate, also spurring investors' interest, eventually to reflect beneficially in the country's economy", Garibashvili said.
He added that Krtsanisi Resort Residence is currently the largest development project in the country, 'an example demonstrating that, even in the face of the most adverse circumstances, we should set our mind on development'.