70 mln GEL to be invested in new Outlet Village near Tbilisi

In about one year the Georgian capital city of Tbilisi will welcome the region's first Outlet Village that will serve both Georgian citizens and visitors of the country.

Outlet village will be built just outside Tbilisi, near Lilo and the Customs Clearance Zone.

The project will be implemented by the local real estate development company Domus and 70 million GEL (about $22.44m/€19.01m) will be invested in it.

An artist impression.

Georgian Prime Minister Irakli Garibashvili together with the project's investors and partners buried a symbolic time capsule to mark the launch of construction earlier today.

We are excited to see that after opening this Outlet Village will employ 2,000 people. Also, 500 people will be employed in the process. We are happy to have a Spanish company involved in the project's designing. It is also exciting to have our new trade space managed by an American-European outlet management company", said Garibashvili.

An artist impression.

Partner of Outlet Resource Group Barbara Horaz said at the presentation that the reason she fell in love with Georgia was not only its food and wine tradition, but the ‘immense sense of entrepreneurship and the willingness we felt from the start to contribute to the growth of the economy’. 

And the other thing was the speed of the action, the speed of which this has been achieved. In my home country, in Germany and in many other countries across Europe, this would take 10 years or more. It is a very difficult procedure to put this in place because of permits, because of population resistance and so on", she said.

An artist impression.

The initial phase of construction of the Outlet Village stretching over 10 hectares of land is due to be completed in 2022.