Economy

Plans revived for Trump Tower in Batumi, Georgia

by | Nov 17, 2016
donald_trump_tbilisi

Donald J. Trump. (Interpressnews.)

TBILISI, DFWatch–Plans for a Trump Tower on Georgia’s Black Sea coast are being revived, after laying dormant for the last five years.

Newly elected US President and businessman Donald Trump visited Batumi personally in 2012 and later praised Mikheil Saakashvili for boosting the former Soviet republic’s economy by leading the country through a series of reforms.

Trump was invited by Silk Road Group, a developer which received a license to build the new highrise in March 2011, based on plans developed a year earlier.

Giorgi Marr, Silk Road Group’s spokesperson, told Interpressnews on Wednesday that the plans were halted because of increased property prices and because Silk Road Group was having difficulties with the government in the autonomous Adjara region of Georgia, he explained.

Marr adds that the company has had stable relations with the Trump organization for the last six years and are monitoring the situation in the property market, which recently has improved.

“There is basis for optimism and we plan to continue this ambitious project in the near future,” he said.



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