NEWS

State announces 100 million GEL tender to ensure the completion of unfinished construction projects

The tender aims to support the construction sector in order to minimise the negative impact of the crisis on the construction sector and promote the stability of the real estate market. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 27 Aug 2020 - 13:54, Tbilisi,Georgia

The Georgian government has announced a 100 million GEL ($32.46 mln/€27.48 mln) tender to ensure the completion of unfinished construction projects. The government will then sign a sale option agreement with the winners of the tender and purchase not more than 30 per cent of the total living space of each building.

The tender aims to support the construction sector in order to minimise the negative impact of the crisis on the construction sector and promote the stability of the real estate market.

Fourth anti-crisis plan revealed: How does the gov’t plan to support the construction?

Georgian PM Gakharia said the initiative was proposed after the introduction of mortgage subsidies to stimulate the development sector in the country, noting in 2008-2009 many buildings were left unfinished which made cities ugly and also caused many social problems for the citizens.

The tender may be announced several times but the total budget should not exceed 200 million GEL.

Applications will open at 09:00 on August 27, 2020 and end on September 11, 2020 at 18:00.

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