The dismantling and stacking of the facade and roof glazing/panels, glass and panel connection profiles, load-bearing steel structures such as columns and beams, and all steel components constituting the shell of the 'RHIKE PARK TBILISI MUSIC THEATRE EXHIBITION HALL' buildings is launching in Tbilisi.
According to the Architectural Service, the company that owns "Rike Docks" has already received a temporary demolition permit.
The owner of "Rike Jugs" is "Rike Dom," which was originally owned by businessman Tornike Kopaliani. However, last spring Macro Property acquired Rike Dom shares for USD 2,840,000. " The owner of the group is Turkish businessman Emin Uçar.
In turn, "Rike Dom" company acquired the Rike Jugs complex in April 2025 from Global Victory Trust, owned by businessman David Khidasheli.
According to the agreement, the transaction value was 2.84 million US dollars, which will be received by the previous owner, businessman Tornike Kopaliani. Additionally, "Maqro Property" company undertakes to pay 10.8 million GEL to the former owner of Rike Jugs Global Victory Trust, owned by businessman David Khidasheli.
The property was sold with authorization of demolition, a hotel may be built on the site in accordance with the conditions set by the government.
Under a government decree, Rike Dom LLC needs to ensure real estate development by 2030, either on its own or through another party. The company must fulfill its privatization terms with 44,000,000 GEL in investments.
As a reminder, the Rike Jugs complex occupies a 14,591-square-meter site. The Rike Jugs project was designed by the Italian architect Massimiliano Fuksas, and it was intended to accommodate both a concert hall and an exhibition center. The construction commenced in 2011, with a total cost of GEL75 million.
