Notorious Mirza-Shafi project for sale

Notorious Mirza-Shafi project for sale

access_time2019-10-08 16:00:22

Mirza-Shafi notorious project is for sale. The project investor, founder of CAPITAL PARTNERS OF GEORGIA Giorgi Svanidze exclusively told "Commersant". According to Svanidze, he withdraws from the  Mirza-Shafi project for  several reasons, including the lack of finances.

“I am withdrawing from the project. I’ve become  a member of the Olive World Association Board this year and I switched to the agro sector. I believe Mirza-Shafi project should be carried out  by an investor with relevant experience. Someone has already shown its  interest but  I can't specify  the details,  ” Svanidze notes.

As reported, the Mirza-Shafi project was announced years ago. In March 2019, Giorgi Svanidze told Commersant that the project was likely to start in a few months as the company was  searching finances.

Giorgi Svanidze did not name a possible investor, but claimed it would be foreign capital and would be part of the project.


Svanidze notes that  together with the  partners, historians, renowned architects were actively involved in the work on the  "Mirza Shafi" project to fit it into the architecture of the ancient district of Tbilisi Abanotubani as much as possible. The agreement was also concluded with "Kempinski" brand on the construction of the  hotel.

 A total of $  60 million was  planned to be  invested in the project and 1 200 people to be  employed.

 The project envisaged the construction of 2-4 storey terraced buildings, business centers, boutique-hotels, a variety of cultural houses, the exhibition hall.

 Critics said  the project does not  fit into the architecture of  Abanotubani which is the ancient district of Tbilisi and believed it is    unacceptable to place ugly buildings in the shape of cubes in the area.


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