Rike Jugs concert hall still not sold at auction despite 50% discount
This was the fourth auction announced to sell the Rike Jugs as the building is included in the list of privatisation facilities as part of the '100 Investment Offers to Business' state programme. Photo: designboom.com.
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A concert hall located in the Rike Park of the Georgian capital city of Tbilisi could not be sold at auction for 47.5 million GEL despite a 50% discount, announces the National Agency of State Property.
The auction failed again because no one expressed a desire to buy the building", said the agency.
This was the fourth auction announced to sell the Rike Jugs as the building is included in the list of privatisation facilities as part of the '100 Investment Offers to Business' state programme.
The first auction was held in February 2020 when the building was valued at 95 million GEL.
The Rike Jugs were installed over 15,000 sq.m. of space in 2012. The facility was expected to serve as a concert hall in Europe Square, however, it was never completed.
In total 75 million GEL was spent on construction of the building.
The interior of the building is fully finished and it is popular among tourists and visitors of the old Tbilisi district due to its original design.
The government of Georgia is starting to reform state-owned enterprises, announced Georgian Prime Minister Giorgi Gakharia at today's government meeting, adding that this will be 'an extremely important process during the economic life of Georgia in 2021-2024'.
The government should start thinking about the privatisation of state-owned enterprises, said Acting Prime Minister Giorgi Gakharia earlier today in parliament, noting that this does not apply to strategic companies.
Over 120 million GEL has been earned from the privatisation of state buildings in 2020 despite reduced business activity amid pandemic, said Georgian Acting Economy Minister Natia Turnava earlier today.
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.
A former concert hall located in the riverside Rike Park in Georgia’s capital Tbilisi has been sold via an online auction for 10 million and 2 thousand GEL (about $3,094,025/€2,812,236), the National Agency of State Property announced on Thursday.