Baltic States – CIS, Estonia, Good for Business, Investments, Markets and Companies, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 13:39

Cornerstone for Oleg Ossinovski's EUR 1 b real estate development in Georgia laid Friday

BC, Tallinn, 26.09.2018.Print version
The cornerstone for the residential real estate development of Estonian businessman Oleg Ossinovski, the total volume of which is planned to be one billion euros, was laid in Georgia on Friday, informed LETA/BNS.

Skinest Group founder and large investor of the Tbilisi Hills Golf & Residences project Oleg Ossinovski, Estonian ambassador to Georgia Kai Kaarelson, Gardabani Mayor Ramaz Budaghashvili and governor of the Kvemo Kartli region Shota Rekhviashvili at an official ceremony held on Friday laid a symbolic cornerstone for the building, the developer of the project said.


Ossinovski said that Tbilisi Hills is a very ambitious, complex and exciting project, which ties harmoniously together the Georgian nature and audacious architectural solutions. "While altogether 33 mln euros has been invested in the project so far to establish the infrastructure and communications of a golf course, the total cost of the project will be one billion euros," Ossinovski said.


The Tbilisi Hills Golf & Residences development encompasses a territory of 331 hectares. Altogether 44 plots will be put on sale this year, while residential development, which will include 54 apartments and eight townhouses with spacious yards and pools, will also be launched.


The Tbilisi Hills complex will be an environment with a school and kindergarten, outdoor pool, sports club, spa, tennis court, clubhouse, hotel, restaurants and other structures. The complex will be located on a hillside, offering views of the vicinity of Tbilisi, Mount Kazbek and the Shavnabada Monastery.


Estonian ambassador to Georgia Kai Kaarelson said at the ceremony that relations between Estonia and Georgia are deep and multi-level and that Estonia is always glad to share experiences that help Georgia on its journey toward becoming a wealthier country and in the euroatlantic integration process.


"Tbilisi Hills Gold & Residences is the largest Estonian investment in Georgia so far and with that gives a positive signal to other possible European investors. This project does not only involve houses and golf, but shows a lifestyle and values that Estonia represents -- a green and peaceful Nordic style living environment, in which it is possible to promote healthy living habits. Hopefully this will help Georgia further revive its tourism sector by attracting golf enthusiasts from across the world to the country," Kaarelson said.






Search site