M2 company will resume the construction of unfinished projects of "Sveti" construction company. The Memorandum of Understanding was signed today between Tbilisi Municipality and developer company " M2 real estate".
Tbilisi Mayor Kakha Kaladze said at a briefing on Wednesday that within the framework of the document, the parties expressed their readiness to support fulfilment of the obligations taken before the population affected by the construction company "Sveti" by completing unfinished construction.
“In order to complete the construction, three suspended projects of Company Sveti in Tbilisi (Mirtskhulava Street # 9-11, Nutsubidze Street # 125a, Chkondideli Street # 22) will be handed over to m2 company. There are 30 residential blocks and up to 2,000 residents expect to live in the complexes,” Kakha Kaladze said.
According to him, the investment cost of the project is GEL 250 000 000 and it is fully funded by m2. BK Construction, a company with over 26 years of experience, will carry out the engineering-construction of the facilities. The construction should be completed within three years after receiving the construction permit.
“This is an important project for us because we realize that we have taken a great responsibility before the public and the city. We are involved in this project by the initiative of Tbilisi City Hall and we are grateful for this confidence. It is noteworthy that such practice is unprecedented in the country's history and we are delighted that with our help, the families that have been waiting for years will get their own apartments, ”said the Managing Partner of m², and the CEO of BK Construction, Shota Berekashvili.