A residential building will be constructed on the site of the former Ministry of Agriculture building on Kostava Street in Tbilisi, replacing a previously planned 200-room five-star Hilton hotel.
The company "Granat" had originally undertaken the responsibility to build the hotel according to an agreement signed with the government several years ago. However, according to the latest information on the Architectural Service website, "Granat" has already received permission to make a number of changes to the agreed-upon project, including the exterior facade and the functional purpose of the building. According to the revised project, 75% of the multifunctional complex will be residential, while 25% will be commercial, including a 7-room hotel.
The current building is 12-story, comprising 3 underground and 9 above-ground floors. The ground floor will house a swimming pool with a relaxation space, a sauna, a hammam, salt and treatment rooms, massage rooms, a beauty salon, a lounge area, a video projection room, and a technical room, as well as a co-working space. On the underground floor at an elevation of -3.84 meters, a reception area, changing rooms, a fitness hall, a treatment room, a commercial (retail) zone, and technical rooms (mechanical and engineering equipment) will be housed.
"On the first floor, additional 6 independent commercial (retail) spaces will be arranged. On the mezzanine level of the building (mark +3.75), there will be 4 independent commercial (retail) spaces and office premises.
According to the project, the first floor of the building (mark +6.95) will house 7 hotel rooms, while the main area of the floor will contain office premises," the explanatory note states.
According to the company registry, LLC "Granat" has seen a change in ownership this year. Shomurod Ilyasov (75%), a citizen of Uzbekistan, and businessman Dimitri Abdushelashvili (25%) have transferred their stakes to LLC "DMG Group". The shareholders of LLC "DMG Group" are Kakhi Zhordania (75.1%), son of businesswoman Maka Asatiani, and Elisabed Trapaidze (24.9%).
The hotel construction is due to be completed in 2027.
It is noteworthy that Granat LLC has undertaken the obligation to construct a hotel in accordance with an agreement concluded with the government back in 2015. Granat purchased the hotel project from Georgian Real Estate LLC. According to this agreement, the Granat hotel with at least 120 rooms, was to be commissioned within 4 years.
The agreement was revised in 2019, when the amendments stipulated the completion of construction/reconstruction and the commissioning of the hotel no later than May 18, 2021. At that time, the investor was obliged to invest USD 25 million instead of USD 20 million in the hotel.
"In 2021, however, the company 'Granat' applied for a 24-month extension of its construction permit but was refused. Since then, the company has submitted revised plans multiple times and sought permission to resume construction, finally obtaining it in 2023.
