DMG Group officially announces the acquisition of Laguna Vere, along with the sites of the former Silk and Tobacco factories.
The project aims to restore these long-abandoned industrial areas and integrate them into Tbilisi's evolving urban landscape.
The architectural concept for the development will be created by the internationally acclaimed Spanish studio Ricardo Bofill Taller de Arquitectura. In addition to residential buildings, the master plan includes:
- The restoration of Laguna Vere, returning the historic landmark to the city while preserving its original function;
- The rehabilitation of one hectare of recreational green space, enriched with new landscaping and vegetation;
- The adaptive redevelopment of the former Silk and Tobacco factories, giving a new purpose to these historic industrial areas.
The total investment in the project is expected to reach up to GEL 1 billion. During both the construction phase and subsequent operations, DMG Group plans to create employment opportunities for up to 1,000 local professionals.
Recognizing the strong public interest in this important location, DMG Group is committed to maintaining a transparent dialogue with the public and will share further project details as they become available.
