Government to offer 100 state-owned buildings to business tomorrow

Ministry of Economy and the National Agency of State Property will offer local and international businesses 100 buildings for privatisation tomorrow, announced the Ministry of Economy.

Minister of Economy Natia Turnava says that such a case is  unprecedented,  with all 100 buildings going on offer  for privatisation at once in the form of parallel auctions.

Turnava said that the  total initial price for these buildings is 150 mln GEL ($50.4 mln/€45.8 mln). 

Businesses can access  all the information about the buildings on the website of the National Agency of State Property and will be able to be involved in the process of privatisation. 

To simplify the selling process, all  information about the buildings will be published  on the website, with recommendations for purposing the buildings . These recommendations will be in accordance with the general plans of the towns and municipalities where the buildings are located. 

Turnava said that all the legal issues will be handled  in advance of the sale, including the valuation process, property registration, and boundary specification. 

This is one of the largest investment offerings, a very broad choice for businesses, where and how they can invest and create new jobs," said Turnava.

Turnava said that the process of privatisation will help attract additional investments in the country and will stimulate economic growth.