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Budapest Hotel Construction Suspended Indefinitely

Construction of Budapest  hotel near Vake Park has been suspended and a fate  of the  multi-million project is still unknown.

CBW was told at  the Tbilisi City Hall, that the Supervision Department has suspended  the construction due to the violation of safety rules. For several months, CBW was not able to contact the representatives of  Tiflis Business Group  involved in  the project implementation, who stated principled position in January and blamed the Mayor’s Office for delaying  the project.  They add, if the municipality doesn’t give permission for the construction, the company will continue to fight legal means, and it will cost 30 million for the City Hall.

In January they said in the company that were oppressed by the Mayor’s Office which  forced them  to exchange the  land in the center of Tbilisi on areas in the suburbs. “Despite the fact that they have no right to do so, as the exchange of land is not within the purview of the City Hall. Several times we fall into a similar situation under the previous government, and we were forced to cede several plots of land. We are ready to sell the territory to the City Hall for  $ 11 million  – this amount includes the cost of land of $ 3 million, the estimated gain on investments-  7 million, and a loss of stopped works – $ 1 million. The amount we require is quite real,”- the company’s representatives said.

Tiflis Business Group does  not rule out some interest in this area, and for this reason  the capital government prevents the company  to start the project. A five-star hotel is planned to be built in this area, the project cost will be $ 22 million.