Construction of 38-storey towers on Kazbegi Avenue has started- Irakli Kverghelidze, Geneal Director of Orbi Group, told Commersant. The construction
permit which Orbi Group and Block Invest had been waiting from the government for
years was issued.
The initial investment cost of the project was $ 140 million with a total area of 120 thousand m2. But as Irakli Kverghelidze notes, the investment cost has increased and now exceeds the amount of $ 140 million. However, Kverghiladze doesn’t specify the exact amount at this stage. Work on the digging and laying some of the foundations for the new complex is currently underway on the territory of the former building of the Blood Transfusion Institute.
We have received the permit for the Kazbegi towers, now work on the digging and laying some of the foundations is underway. the pandemic has affected the deadlines but gradually all the work will be completed, the international tender will be announced to carry out works and as soon as possible, we will renew the construction. The project will be completed in 20 months, - Irakli Kverghiladze says.
According to Kverghiladze, all the companies involved in the construction of Kazbegi Towers are the same and the project is fully financed by Georgians.
Note: Orbi Group was set to start the construction of Kazbegi Towers in 2016, but the project was delayed due to lack of permits.