GEORGIA PROFILE TBILISI PROFILE PROJECTS OF TBILISI PROJECTS OF GUDAURI PROJECTS OF MESTIA PROJECTS OF ANAKLIA PRIVATIZATION OPPORTUNITIES

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1 1 GEORGIA PROFILE TBILISI PROFILE PROJECTS OF TBILISI PROJECTS OF GUDAURI PROJECTS OF MESTIA PROJECTS OF ANAKLIA PRIVATIZATION OPPORTUNITIES PRIVATE COMPANIES OFFERS

2 MINISTER OF ECONOMY AND SUSTAINABLE DEVELOPMENT OF GEORGIA 2 Dear Sir/Madam, On behalf of Georgian Government, I would like to present the current trends in Georgian real estate sector and invite real estate professionals attending MIPIM exhibition to explore international property development projects available in Georgia. Georgian government has identified and targeted the real estate sector as one of its main economic priorities for investment and growth and has supported this development with the necessary infrastructure, appropriate legislation, tax incentives, privatization opportunities and other economic benefits. One of the latest initiatives is the development of the Free Tourism Zones in Kobuleti and Anaklia offering investors unprecedented terms for the construction of hotels and resorts. I would like also to draw your attention to Mestia, Svaneti, untouched mountainous corner of Georgia with a rich history. Presenting UNESCO World Heritage sites and the giant snow mountains with a total vertical drop of 988 m, Mestia easily qualifies for Olympics. Modern high quality ski facilities and a master plan of the region developed by Ecosign, worldwide famous mountain resort planners, will stimulate further development of the Tourism Industry in Mestia. I am confident that you will find these latest initiatives interesting, as they have already demonstrated a great deal of success. We have seen remarkable interest from international investors in developing hotels and other tourism-related facilities in the capital Tbilisi and resort areas across Georgia. There has never been a better time to invest in Georgia. Thanks to an aggressive reform agenda implemented by the government over the last 7 years, our country has dramatically improved its business and investment climate, quickly moving up the rankings in international business surveys. Georgia was ranked 12th among 183 countries in the World Bank s 2011 Ease of Doing Business report and 7th among 183 countries in terms of dealing with construction permits. According to Transparency International Georgia is one of the least corrupt countries in Eastern Europe and according to Forbes Tax Misery and Reform Index 4th best performer worldwide. As the Minister of Economy and Sustainable Development of Georgia I would like to personally invite you to consider real estate development opportunities in our country both through an array of privatization possibilities on offer by the Government as well as through partnership with the private sector in Georgia. Ms. Vera Kobalia

3 MAYOR OF TBILISI Ladies and Gentlemen, I am delighted to present interesting projects that Tbilisi has brought to this exhibition. These projects will have a profound impact on the urban image of Tbilisi and ensure its further development in line with European standards. This makes more sense in the light of recent accomplishments we have made in terms of infrastructure development, urban planning and green solutions by implementing innovative projects in the capital. However, what especially attracts investors are low taxes, absence of corruption, reduced bureaucracy and a favourable investment climate. Procedures applicable to making business in Tbilisi are simple and transparent. There are only a few countries around the globe where starting business is so easy. For more clarity let me bring an example of a building permit that can be obtained online within a single day. State-owned property acquisition or lease procedures have been simplified. 3 It is owing to these changes that Georgia ranks among leaders in respect of reforms and anti-corruption measures as reported by the World Bank and other authoritative organisations, including the Transparency International. These and other changes have contributed to Georgia s rankings in the World Bank s Doing Business as #1 Reformer. According to other international organisations, including the Transparency International, Georgia is one of the leaders in terms of fighting against corruption. Let me also draw your attention to those projects which have already succeeded in obtaining support from international donors. In the view of the ameliorated investment climate in Tbilisi, these projects will likewise raise interest in private investors. It is my great pleasure to greet all investors who take interest in real estate projects. They will be welcome guests and partners for the Tbilisi City and its citizens. Mr. Gigi Ugulava

4 THE GEORGIAN NATIONAL INVESTMENT AGENCY- INVESTORS #1 LOCAL PARTNER SINCE 2002 The Georgian National Investment Agency (GNIA) was set up by the Government of Georgia in 2002 to promote foreign investments and facilitate economic development in Georgia. GNIA is the only government agency responsible for investment and recently also for export promotion. Active on a global scale, GNIA is offering an extensive range of services to investors through a one-stop-shop approach, and assists them in obtaining optimum results from Georgia. GNIA s team of professionals can assist investors in English, Russian, Italian, Turkish, French, Spanish and is dedicated to helping investors successfully develop their business operations in Georgia. Agency is also responsible for development of the investment portfolio, which includes various real estate projects in areas such as hospitality, commercial and residential. 4 Keti Bochorishvili, Director - Georgian National Investment Agency At GNIA, we are committed to assisting you with all of your investment and business development needs. Our team of investment specialists offers investors a wide range of services, including market research and analysis, advice on market entry, assistance with establishing a company, local partner search and introduction to local business leaders and government authorities. Our tight cooperation with the all entities will advance your search efforts in Georgia and help you to utilize existing opportunities. Georgian National Investment Agency Ministry of Economy and Sustainable Development of Georgia 12 Chanturia str Tbilisi, Georgia Tel: k.bochorishvili@investingeorgia.org

5 ECONOMIC AFFAIRS OFFICE Zviad Archuadze, Head of the Economic Affairs Office, Tbilisi City hall We are dedicated to endow you with sufficient information on business environment in our city, to assist you in making the best choices through full-length guidance, market studies. We can introduce the investors to the required procedures how to start and develop a business in Tbilisi, link you with relevant partners, raising the recognition of your company and your product. Economic Affairs office is at your disposal in the way of your prosperity. We are pleased to share the opportunities for investors, operators, consultants, architects, end-users in the city of business friendly environment, rollicking life style & nevermet hospitality. Economic Affairs office is at your disposal in the way of your prosperity. 5 Economic Affairs Office is the gateway for your business to access Tbilisi. The Office is the part of Tbilisi Authority and acts in the following directions: city strategies and long-term plans, investors service, city branding and marketing, tourism, SME support, workforce capacity-raising, energy efficiency, international projects management, Tbilisi Metropolitan Area development. Multilingual team of professionals at the office proffers comprehensive services to our partners through consultations, guidance, business match-making, business data provision and introduction to the city. Investors willing to do businesses in Tbilisi the City That Loves You - will be offered the opportunity to make joint marketing of their endeavor with the city. Economic Affairs Office Tbilisi City Hall 7 Shartava str. Tbilisi 0160 Georgia Tel.: invest@tbilisi.gov.ge

6 GEORGIA PROFILE Georgia-Time Tested Country Situated in the south of the Caucasus region at the strategically important crossroads where Europe meets Asia, Georgia covers an area of 69, 700 sq km and has a population of about 4.6 million, with 1.3 million living in the capital city of Tbilisi. Georgia has its own alphabet and the country s inhabitants speak various languages, with Georgian the official language. Georgia has a unique and ancient cultural heritage, and is famed for its traditions of hospitality and cuisine. Country is known as a cradle of wine-the oldest wine producer in the world. Inhabited continuously since the early Stone Age much before the Christian era and located right on the fabled Silk Route Georgia has stood the test of time as the link between the East and the West. 6 Today, Georgia is a flourishing presidential parliamentary democracy. It has been recognised by and is a member of various global organizations such as the United Nations, the World Trade Organisation, the Organisation of the Black Sea Cooperation, the Organisation for Security and Cooperation in Europe, the Community of Democratic Choice, the GUAM Organisation for Democracy and Economic Development and the Asian Development Bank. All this points to the country s drive to integrate itself with the rest of the world, and its acceptance in the world order as a sovereign state with a strategic economic future.

7 GEORGIA PROFILE 7

8 TBILISI REFORMS SEA CREATION DEVELOPMENT OF FAVORABLE MARKET ENVIRONMENT Ease of Doing Business 2011 Index Of Economic Freedom Singapore United Kingdom United States GEOGRIA Estonia Germany France United Arab Emirates Armenia Azerbaijan Turkey China Russian Federation India Ukraine Up from 112 in Source: World Bank, 2010 (Rank out of 183 countries) Hong Kong United States United Kingdom Japan Germany GEOGRIA Armenia United Arab Emirates France Turkey Azerbaijan India China Russian Federation Ukraine Up from 99 in Source: The Heritage Foundation, 2010 (Rank out of 183 countries) 164 Global Corruption Barometer (EU) 2011 Forbes Tax Misery & Reform Index 2011 Denmark United Kingdom Norway Finland Netherlands Switzerland Germany GEOGRIA Iceland Spain Austria Czech Republic Poland Latvia Luxemburg Qatar UAE Hong Kong GEOGRIA Macedonia Russian Federation Singapore USA Azerbaijan UK Switzerland Ukraine Turkey France Source: Transparency International, 2009 (Rank out of 69 countries) Source: Forbes Business & Financial News

9 BUSINESS FRIENDLY ENVIRONMENT Protecting Investors Starting a Business, 2010 New Zealand 1 USA 5 Georgia 3 3 GEOGRIA 20 Latvia 16 5 Australia 59 Germany 93 USA 6 6 Time (Days) Russian Federation 93 Turkey 6 Procedure (Number) 6 Source: World Bank - Doing Business 2011 Netherland 10 6 UK 13 6 Russia 29 8 Starting a Business Italy 13 9 New Zealand 1 Germany 18 Singapore 4 9 GEOGRIA 8 Bulgaria 9 USA 9 Ukraine 27 UK Turkey 63 Azerbaian Source: World Bank - Doing Business 2011 Source: World Bank report - Doing Business REGISTERING COMPAMY CONSTRUCTION PERMIT PROPERTY REGISTRATION IN 1 DAY

10 10 TBILISI Tbilisi, the capital of Georgia, is a significant centre not only in Georgia, but also in Eastern Europe and the Caucasus Region. Situated along the route of the historical Silk Road, Georgia still holds a strategic location as the crossroads of Russia, Turkey, Armenia and Azerbaijan, Europe and Asia, the Islamic and Christian worlds. Tbilisi plays a key role as an urban centre for international relations and services. The role of the city in the region has even increased after the collapse of the Soviet Union. At national level, Tbilisi is the Capital and largest city is the country. It represents the centre of Georgian political and business life. This 16-century-old city offers a unique fusion of eastern and western, old and modern, traditional and innovative cultures and subcultures. In terms of economic output, corporate presence and share of FDI (Foreign Direct Investment), Tbilisi outperforms the rest of the country by a significant margin. Population of the city is 1.2 mln making up 25 percent of the total population of Georgia (4.4 mln). An upswing in economic activity has reflected in growth of real estate prices in the country, especially in the capital city. The capital s contribution to the country s economy is 70 percent that plays a significant role in the country s development. The City Government encourages real estate market development by creating favorable business environment, simplification of the privatization procedures and promotion of the city opportunities. The most essential achievements of the City Government are liberalized and simplified land acquisition and construction procedures. The amendments made to the relevant legislation allow developers to obtain the necessary permission within three month. Nowadays, the City Government is one of the biggest real estate owners.

11 cv TBILISI SEA DEVELOPMENT 11

12 TBILISI SEA DEVELOPMENT 12 Brief: The Tbilisi Sea is an artificial lake in the vicinity of Tbilisi that serves as a reservoir. It provides the drinking water for a large number of inhabitants. The strategic project of Tbilisi Recreational Zone is planned to be undertaken by the Public Authorities In the surroundings of the lake. The project includes the creation of large green spaces, sports and recreational facilities and new housing development, transforming it into the natural expansion of the city. Due to its particular good weather conditions and the fine breeze that flows constantly in the evenings, the Tbilisi Sea has become a popular resting place for the population during the hot summers, since its opening in Several economic entities of HoReCa and water-sports clubs have been established in accordance to the demand, foreseeing the potential attraction of the area and enriching the recreational offers for the visitors. Figures: The project extends over 5,317ha, including the water surface. The lake has a length of 8.75 km and width of 2.85 km. It was opened in 1953 and has become a popular recreational spot. Max length: 8.75 km Max. width: 2.85 km Max. depth: 8.75 m Surface elevation: m

13 TBILISI SEA DEVELOPMENT Objectives: To create a major waterfront attraction of international significance;. To create the destination for local, regional and international visitors;. To create distinctive new districts each of which will have a unique vision, use and ethos; To provide for sporting, leisure, business and residential uses;. To maximize opportunities for sustainable development and technologies; To be set within a high quality landscaped network of parkland and open space; To create strong connections into the existing city to provide convenient access for citizens and visitors to the new districts; 13 The key is to shape a destination able to be the engine for the further development of the city of Tbilisi, increasing the value of the landscape of this placement and preserving the ecological values. Furthermore, the appropriate connection of the development with the surrounding neighborhoods will produce synergic effects, such as encouraging the practice of sports and stretching the social contact. The Tbilisi Sea is planned as a large scale urban development called to be the up-coming opportunity for the further evolution and sustainability of the city.

14 TBILISI SEA DEVELOPMENT 14

15 TBILISI SEA DEVELOPMENT Project details: According to the framework plan, the following subzones are suggested: Yacht-club and whitewater rafting (52ha); Guest Houses, Restaurants, Spa, Entertainment for the youth and Educational activities (50ha); Beach Zone (36ha); Underwater World (3ha); Fishing Zone, Free Beach (28ha); Camping (18ha); Sport flotilla (17ha); Regatta (20ha); 15

16 TBILISI SEA DEVELOPMENT 16 Table 1: Functional zones of the entire recreational area SCOPE OF THE PROJECT SURFACE 1 Zoo 55 ha 2 Yacht club 52 ha 3 Guest house, Restaurant, resting, education 50 ha 4 Trade centre 24 ha 5 Education centre 7 ha 6 Beach zone 36 ha 7 Underwater world 3 ha 8 Fishing zone. Free beach 28 ha 9 Horse-riding 38 ha 10 Tourist routs. Extreme sports 45 ha 11 Holland land 66 ha 12 English park 335 ha 13 Tourist base. Infocentre 32 ha 14 Motel 33 ha 15 Camping 18 ha 16 Golf 93 ha 17 Sport fiotilla Elingi 68 ha 18 Olympic village 17 ha 19 Trade centre 12 ha 20 Regatta 20 ha 21 Sports town 198 ha 22 Nursery for plants and flowers 151 ha 23 Air balloon 88 ha 24 Hang-glider. Sky diving 150 ha Table 2: Areas within the Tbilisi Sea Recreational Zone which are to be covered under the urban planning Projects that will be prepared at the next stage DESIGN SITE 1 Residential Zone 2 Zoo, Dendropark 3 DESIGN STAGE Yachtclub, whitewater rafting; boarding house; restaurant; trade centre; entertainment for the youth; awareness 4 Residential Zone 5 Educational Centre; beach zone 6 Residential Zone 7 8 Underwater world, fishing zone, English park, horse-riding; tourist rotes, extreme sports; Hollandland Camping, motel; tourist base, golf; hangglider, air-diving Building regulation plan Building regulation plan Building regulation plan Building regulation plan Building regulation plan Building regulation plan Framework plan Framework plan 9 Sport flotilla, Olympic village, Trade centre Framework plan 10 Residential Zone 11 Nursery for plants and flowers Building regulation plan Building regulation plan 12 Sport town Framework plan note*: The attraction of the area is to be powered by the replacement of the Tbilisi Zoo from the downtown area and development of the new Dendropark.

17 TBILISI SEA DEVELOPMENT Highlights: Olympic Village After Tbilisi has been elected to Host the European Youth Olympic Festival (EYOF) in 2015, huge infrastructural projects were set to be developed, including the construction of the Olympic Village, within the capacity for 4000 participants, occupying 4-5 ha of the Tbilisi Sea area. Technical requirements: 50 premises including, administrative unit, conference hall, residential units, dining hall, entertainment centre; Premise parameters : 2-3 floors of 150 m2 each; Capacity per premise: 24 rooms/96 persons; Inerest: We are intereseted in finding investor, hotel operator, broker, consultang group, entertainment resort operator, end-users. 17

18 18 THE PROJECT OF THE CENTRAL RAILWAY RELOCATION IN TBILISI

19 THE PROJECT OF THE CENTRAL RAILWAY RELOCATION IN TBILISI Brief Project of the central railway relocation was initiated by the Georgian Railway and supported by EBRD. Site is situated in the centre of Tbilisi, carrying the importance for sustainable urban development and economic growth. The land is now available for redevelopment empowered by the decision of the state authorities. Master-plan will be designed by Consortium APUR-SYSTRA-EXA-SPECTRUM carrying the content of market study, master plan (Design Vision and Infrastructure Plan), environmental, social and financial appraisal; sales and disposal strategy. Figures The Railway relocation from the major to the northern part of the city will free over 85ha of land, owned by the Georgian Railway LLC. Objectives: It is the joint objective of Georgian Railway, the Municipality of Tbilisi, the EBRD and EU/NIF that the development opportunity will be one of the most significant changes within the City of Tbilisi in the coming 10 years. The project is aimed on the brand new site development to construct the endorsed business city. Project details: Completed Master plan will be subjected to open consultations providing the basis for detailed planning, phasing and infrastructural investments. Phased strategy will generate early capital receipts to plan a long term sustainable and transformational urban development vision. 19

20 20 DEVELOPMENT OF THE DRY SKI RESORT OF UDZO

21 DEVELOPMENT OF THE DRY SKI RESORT OF UDZO Brief Udzo Ski resort is situated in a 15 minutes from the capital city of Tbilisi. The advantage of being easily reachable and connected to the city makes the site attractive for different strata of business doing society. The bordering area of recreational zone gives additional opportunities for various entertainment facilities. Figures Site is composed of 1000 hectares, including the lake of 400 meters wide, planed to be used as a reservoir for the dry snow formation. The beginners, intermediate and professional ski slopes are planned to be constructed. 21 Objectives: To construct 8 skiing lifts; To develop the residential sites for cottages; To drive in the HoReCa industry; To develop the sites for mountain biking, horse riding, tracking and fishing; Project details: The preliminary reports of environmental, documentary and technical economic studies are done within the master plan, including zoning and engineering.

22 TBILISI SEA DEVELOPMENT DEVELOPMENT OF THE SKI RESORT OF GUDAURI 22

23 DEVELOPMENT OF THE SKI RESORT OF GUDAURI Brief The fact of Gudauri s rapid development that empowers the Georgian mountain-skiing tourist industry is a result of the advancement, pushed by the state officials. The ski resort is located on the southern slopes of The Greater Caucasus Mountain Range in Georgia, at the distance of two hours trip by car, from the capital city of Tbilisi. Gudauri offers high quality skiing opportunities. The slopes of the resort are completely above the tree line and are the best for free-riders. The ski season lasts from December to April. In accordance to the existing demand, composed of 1,2 MLN Tbilisi city inhabitants, the relative majority of which are keen on skiing, plus the regional and international visitors, the development plan of the new, neighboring undeveloped site was set to the state priorities, titled as New Gudauri. Figures The resort is situated along the Kazbegi district near the Cross Pass, at an elevation of 2,196 meters (7,200ft.) above sea level. Gudauri lies 120 km (75 miles) to the north of the capital city of Tbilisi. Communicational developed system is already constructed. Moreover, gas pipes and lines of electricity are passing through Gudauri. Accordingly, the main job is done and it will be much cheaper to develop a wonderful resort. Project details The development regulation plan of the New Gudauri, considers the development of the alpine type moderns settlement, with a capacity from 8 to 10 thousand residents, on the unsettled and undeveloped alpine fields at meters above the sea level. The ongoing works include architectural planning, engineering and the mountain type infrastructure survey, functional solutions of the territory, analysis of technological and marketing details for winter resort development. 23 Gudauri contains several routes and lifts. The first, lower lift station is at 1,990m above sea level and the last, top station is at 3,306m, called Sadzele. Objectives: To develop the endorsed resort occupying the site of hectares To establish the additional raise the capacity for 8 to visitors; To develop new ski-lines powered by three to four additional lifts; To develop the hub destination for the regional communications and tourist centers; New Gudauri has great possibilities to construct ski-lines as the snow cover on the average is more than 1,5 meters. There are many reserves around Gudauri to create new lines for skiing. Old Gudauri New Gudauri

24 24 TBILISI SEA DEVELOPMENT DEVELOPMENT OF THE FOUR SEASON RESORT OF MESTIA GEORGIA S MYSTERIOUS WONDER MESTIA, SVANETI UNVEILED

25 DEVELOPMENT OF THE FOUR SEASON RESORT OF MESTIA Brief Mestia- A rustic ski wonderland on the verge of discovery was chosen as 6th among 41 places to go in 2011 by New York Times. Being the cultural centre of Svaneti, the north-western part of Georgia, Mestia is known for its medieval monuments representing UNESCO World Heritage sites. The Svanetian towers, nowadays serving as the window of the past, were built in middle ages to protect population from snow slips and enemies. Now they serve as windows to the past. Svaneti is the highest inhabited place in the world, surrounded by 4 of the 10 tallest peaks in Europe. The now complete ski resort and a master plan have been developed by Ecosign, worldwide famous mountain resort planners. The recently built roads and a newly opened airport promise easier travel to this world renowned botanical paradise. Mestia is a full season resort presenting countless opportunities for skiing, heli-skiing, mountain climbing, snowboarding, Nordic spa, ice skating, horseback riding, rafting, fishing, hiking and hunting. Figures The giant snow mountains with a total vertical drop of 988 are available for professional skiers. The resort is surrounded by the highest mountain in Georgia Shkhara, located at 5150 meters above the sea level. The Mestia-Atsvali zone has 8 terrain pods, able to service over 9,740 skiers or snowboarders per day. The total net base development area is composed of 96.8 Ha land, including access roads, overnight accommodation, commercial space, day-use parking and the village pedestrian space. Base Land Use according to types: Village 29.1Ha; Number of Beds Multi family/cottages 26.4Ha; Number of Beds Single family/chalets 47.9Ha; Number of Beds Summer recreational houses Ha Nordic facility 30Ha Day use parking 3.8Ha The Atsvali ski area will have 6 major lift systems for skiing including a double platter lift and five detachable quadruple chairlifts. Two moving carpets would be installed in a beginner s zone. The total are for skier service will be spread at 9,172 m2. 25

26 26 DEVELOPMENT OF THE FOUR SEASON RESORT OF MESTIA

27 GEORGIA S MYSTERIOUS WONDER MESTIA, SVANETI UNVEILED Objectives To develop the four season resort; To drive in the HoReCa industry; Project details EcoSign Mountain Resort Planners, an international brand of 35 years of the field experience prepared Mestia s Development Vision, General Planning and Specific Master Plan. Offers to the investors: Land for nominal price 1sq.m =1 USD Rehabilitated roads Mestia Airport Reconstructed city centre, historic and architectural heritage Svaneti Towers Improved communal infrastructure (water, savage, energy). The new ski cable way constructed by Leitner-Poma Inc. Length 1400 meters. This N.1 fixed grip quadruple chairlift is currently being installed at a capacity of 1,000 passengers per hour. Three main ski trails available with difficulty levels: average (2670 meters) and above average/sports style (2600 meters) 27 Mestia Airport

28 28 SPECIAL OFFER _ FREE TOURISTIC ZONE

29 DEVELOPMENT OF THE SEA RESORT OF ANAKLIA Brief Anaklia resort is located in the western part of Georgia, occupying the site along the sea resorts. The warmest subtropical climate empowers Anaklia to attract large number of tourists for unforgettable leisure time-spending. In addition to natural advantages of dry climate and sandy beaches, Anaklia will own a modern Yacht club and glamorous hotels, located in a walking distance from the seaside boulevard designed by Spanish Company CMD Ingenieros. Figures Anaklia is strategically located to become the center of entertainment of the Black Sea region, Eastern and Western Europe, and the Middle East. It is easily reachable by over 300 million people via land, sea, air and has an existing port access. The site is easy accessible from the various regions of Georgia: 340 km from the Capital city of Tbilisi, 100 km from the top sea resort of Batumi, 20 km from the free industrial zone and logistic hub of Poti and 120 km from the mountain resort of Mestia. The resort will be powered by two new airports of Poti and and Anaklia-Zugdidi, planned to be delivered in the years of 2011 and Objectives: To develop the competitive sea resort with casinos, restaurants and retail shopping; To develop the sites for HoReCa and tourism services; To develop affordable and upscale residential homes/villas. Project details: Following the case of the free touristic zone development, the state officials have established the unprecedented offers to the investors operating in the field of HoReCa, including: Free land (A plot of land along a seaside boulevard); Free Hotel Master Plan; No profit and property taxes for 15 years; Free casino license for the hotels with over 80 rooms; Full engineering utility networks and corresponding outdoor infrastructure such as electricity, gas, water and new roads; Mineral water from source will be available at each land plot 29

30 30 DEVELOPMENT OF THE SEA RESORT OF ANAKLIA Yacht Club

31 DEVELOPMENT OF THE SEA RESORT OF ANAKLIA 31 Pedestrian Bridge into the Sea

32 32 STATE OWNED SITES FOR SALE FORMER PARLIAMENT BUILDING

33 Former Parliament Building Best Location Ø The Building is located on the Rustaveli avenue, which is the central street of the town with retail facilities, cultural and entertainment points of interest and governmental agencies. It is in a short walking distance from Radisson Blue Iveria Hotel, Tbilisi Marriott Hotel, the Tbilisi Opera Theatre and the Rustaveli Theatre. A subway station and one of the three McDonalds cafes in Tbilisi are only about 5 minutes walk from the building while the distance to the Tbilisi International Airport is just 17 kilometers. Ø The avenue is currently the bustling shopping, office and entertainment area. It is one of the most prestigious and densely populated residential areas in Tbilisi. It is surrounded by the capital s other key residential and business districts Vera, Saburtalo and Old Tbilisi all of which are leading zones in terms of infrastructure and development as well as wealth concentration. Ø Good access with private and public transport 33 The building is a cultural heritage site and is distinguished for its architecture, visual beauty and constructional firmness. Land Plot sq.m Usable Space sq. m Parking 389 sq.m Big Court sq.m Small Court 285 sq.m Terrace (Including Starecases and Pools) 1438 sq.m. Basement sq.m. Number of Rooms 574 The overall technical condition of the building is satisfactory with no serious damages or deformations. The medium quality of the refurbishment is average. Taking into consideration this place is ideal for the development of various business activities including but not limited to a hotel, high-class office space and a shopping center. PRICE - $

34 Former Ministry of Finance Best Location The building is located in the most prestigious residential area of Tbilisi (Vake) where some of the richest Tbilisian families live. Until recently it was home to the Ministry of Finance of Georgia. The building stands on the terraced slope of the Mount Mtatsminda only 5 minutes walk away from one of the main arteries of the capital - the Chavchavadze Avenue where many shops and boutiques, banks, commercial offices, cafes and restaurants are located. The Vake Park, which is the largest recreational park of the Georgian capital, is just few meters away. The distance to the Tbilisi International Airport is about 20 kilometers. FOR SALE 34 PRICE - $ Address 70 Abashidze str, Tbilisi, Georgia Land Space m 2 Building Space 7994 m 2 Floors 2 Ownership State 100% Considering the building s convenient location is ideal for the development of various business activities including but not limited to a high-class hotel, business center, office space and a hospital.

35 FOR SALE Former Tbilisi Publishing House Best Location The building is located on one of the central streets of Tbilisi, which is a continuation of the capital s main artery the Rustaveli Avenue. It is about five minutes walking distance away from the newly rehabilitated Philharmonic Event Hall and the Amirani Cinema. The Radisson SAS Iveria Hotel, the Rustaveli subway station and the popular pub and bar area are only a short walking distance away. The Kostava Avenue is surrounded by Tbilisi s key residential and business districts Vera, Saburtalo, Mtatsminda and Old Tbilisi all of which are leading districts in terms of infrastructure and business development as well as wealth concentration. Address 14 Kostava str, Tbilisi, Georgia Land Space m 2 Building Space m 2 Floors 5 Ownership State 100% PRICE - $ Considering its convenient central location the building is ideal for the development of various business activities including but not limited to a hotel, high-class office space and a shopping center.

36 Former Ministry of Economy and Sustainable Development Address 12 Chanturia str, Tbilisi, Georgia FOR SALE Land Space m 2 Building Space m 2 Floors 11 Ownership State 100% PRICE - $ Best Location The building is located in the very center of Tbilisi on the main Rustaveli Avenue. It stands on the foothills of the Mount Mtatsminda and is currently home to the Ministry of Economy and Sustainable Development.It is in a short walking distance from Radisson SAS Iveria Hotel, Tbilisi Marriott Hotel, the Tbilisi Opera Theatre and the Rustaveli Theatre. Governmental offices including the State Chancellery and the Supreme Court as well as different administrative, cultural, commercial and public sites are all located on or near the Rustaveli Avenue close to the site. A subway station is only about 7 minutes walk from the building while the distance to the Tbilisi International Airport is just 17 kilometers. Taking into consideration its convenient location this historic place is ideal for the development of various business activities including but not limited to a hotel, high-class office space and a shopping center.

37 FOR SALE Clinical Hospital of I. Javakhishvili Tbilisi State University (TSU Best Location The site is located close to the city center on the left bank of the Mtkvari River in a densely populated residential area. It is located on one of the main avenues of the capital (the Aghmashenebeli Avenue), which is a bustling shopping and business artery of the city. Numerous shops, banks, hotels, cafes and restaurants, as well as different government, public and cultural places such as theatres and entertainment centers are located there. The area where the site stands borders two of the capital s other key residential and business districts Didube and Dzveli Tbilisi both of which are leading districts in terms of infrastructure and business development as well as wealth concentration. The distance from the building to the Tbilisi International Airport is about 19 kilometers. Address 60 Aghmashenebeli str, Tbilisi, Georgia Land Space m 2 Building Space m 2 Floors 2 Ownership State 100% PRICE - $ The former Clinical Hospital building s convenient location is ideal for the development of various business activities including but not limited to a high-class office space, a business center, an educational institution, a sports center or a hospital.

38 ABOUT ERISTAVI LAW GROUP Eristavi Law Group, a leading law firm based in Tbilisi, Georgia, offers unparalleled legal representation across a comprehensive range of practice areas for both individuals and business entities. Eristavi Law Group is able to successfully resolve the most complex and challenging legal matters facing businesses and individuals today. With over 15 years in the legal field, Eristavi Law Group attorneys are acknowledged as leaders in their profession and are known for their effectiveness, skills and extensive industry knowledge. 38 Eristavi Law Group has not only been recognized for its diverse scope of legal services, but also for its ground-breaking legal advisory services, such as crisis management and corporate governance. The firm also has extensive experience with respect to investment and financial services, including financial structuring, corporate finance, tax advisory and planning. Eristavi Law Group lawyers provide valuable counsel on a wide range of local and international regulatory and transactional policies to investors, both foreign and local. Eristavi Law Group is ready to assist you with your real estate, construction and engineering projects. Whatever your project may be, the firm is here to assist you every step of the way, including bid documents, construction contracts, financing, project management agreements, license agreements, claims, disputes, technology supply, environmental approvals and more! The construction and engineering lawyers offer practical and skilled legal advice based on substantial industry knowledge to get your project started and keep it on track until the close-out. In October 2010, Eristavi Law Group joined forces with Hall Booth Smith & Slover, P.C. (HBSS), a U.S. law firm with headquarters in Atlanta, Georgia, thus becoming the first Georgian law firm to have an exclusive partnership with an American law firm. The memorandum of understanding (MOU) between the two firms was signed in Atlanta, Georgia. Eristavi Law Group was named Georgia s best law firm of 2009 by Sakhelebi (Faces & Names) magazine.

39 PRIVATE SECTOR OPPORTUNITIES Akuri Condominium Project type: Mixed use Existing property: Total land plot size: sqm; Project description: Total construction area: sqm; Apartment sizes: sqm; Underground Parking Space: 250 cars, 7500 sqm; Commercial space: sqm; Space for Sell/ Rent: sqm; Building Price per Square Meter: 500($); Total Building Costs: ($); Inerest: We are intereseted in finding investor, hotel operator. Broker 39

40 Kobuleti Project 40 Project Type: Hotel Existing property: Total land plot size: sqm sea-side land Project Description: Total construction area: sqm; Hotel: 200 rooms; Restaurants: for 150, 200, 300 places; Conference Halls: 100/200 sqm; Casino: sqm; Underground Parking: 50 cars; Open Air Parking: 100 cars; Gym: 150 sqm; Covered Swimming Pool: 50 sqm; Average Building Price per Square Meter: 1 000($); Total Building Costs: ($); Inerest: We are intereseted in finding investor, hotel operator. Broker

41 Gudauri Project Ski lift Project Type: Hotel Existing Property: Total land plot size: sqm; Project Description: Total construction area: sqm; Gross floor area :1 000 sqm; Residential area: sqm; Commercial area: 595 sqm; Additional/supplementary area: sqm; Storage area: 233 sqm; Price per square meter of the net area: 735($); Project s total costs: ($); Costs already incurred: ($); Costs to be incurred: ($); Completion time: December of 2011; Inerest: We are intereseted in finding investor, hotel operator. Broker 41 Property site Gudauri hotel

42 42 ABOUT WOOD SERVICE GROUP PROJECT Vake Park Project represents the first serviced apartment hotel in Georgia and offers unique combination of convenient location, elegant design, sustainable architecture and innovative business approach. Peacefully situated in prestigious district of Tbilisi, 200 hectare Vake Park is largest recreational zone in the downtown and is essential and iconic to Tbilisi as Hyde Park is to London or Central Park is to New York. Serviced apartment hotel is designed in this green setting to offer convenient and peaceful short as well as extended stay. It has several apartment types: small apartments at the front of the building, duplex apartments, corner apartments and penthouses. All apartments have big terraces. The building has a restaurant, lobby and commercial spaces on the ground floor. A fitness space with sun terrace and a court yard with swimming pool are part of the services. The entrance of the building is connected to the road system of the park. The building is designed according to European standards; it has a contemporary appearance and is based on modern sustainable criteria. The first project of its kind in the region Vake Park Apartment Hotel is looking for operator that will provide full expertise in the apartment hotel management and offer complete service package to the customers.

43 Vake Park Project Project type: Serviced Apartment Hotel Existing property: Total land plot size 2863 m2; Developer: Gudauri Ski Resort Ltd. Conception: Wood Service Ltd. Architect: Technical Design Studio Ltd, Hylke Bleeker Project description: Total construction area: m2; Building foot print: 1727 m2; Apartment sizes m2; Residential area: 5600 m2; Additional area: 1667 m2; Restaurant, commercial, fitness, lobby Underground parking: 60 cars; Open swimming pool: 75 m2; Court Yard: 275m2; Total building costs: ($) Inerest: The site is under private ownership and investor is found, we are looking for an international hotel-operator who will join us in running the project. and our company is investing We are interesting to find international hotel operator The building is designed in a green park setting in the Vake district in Tbilisi. It has several apartment types. There are small apartments at the front of the building, duplex apartments, corner apartments and penthouses. All apartments have big terraces. The building has a restaurant, kinder garden and commercial spaces on the ground floor. A fitness space with sun terrace and a court yard with swimming pool are part of the services. The entrance of the building is connected to the road system of the park. The building is according to European standards of projecting; it has a contemporary appearance and anticipates on modern sustainable criteria. 43

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