Green Resorts receives permission to begin 500 million GEL project in coastal Kobuleti
The statement regarding the permission has been made earlier today. Photo: Adjara government press office.
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Green Resorts has received official permission to start the construction of a multifunctional green city in Georgia’s Black Sea resort town of Kobuleti, bringing 500 million GEL (about $185.53m/€ 164.60m) in European investments to the region of Adjara.
Local authorities say that this will be the ’largest investment ever made in Adjara.’
The government of Adjara and Green Resorts signed an investment agreement to build a new city on 180 hectares in Kobuleti last year.
Photo by Adjara government press office.
The project includes the construction of a golf pitch, a football stadium, tennis courts, swimming pools, recreation zones and bicycle trails.
Besides creating sports infrastructure, a new 250-room hotel, shopping centre, parking space for 500 cars, food facilities, apartments and villas will also be built.
70 per cent of the area will be a recreation zone.
The project, which is scheduled to be completed by 2022, will employ more than 500 people.