About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Trump Signs Deal to Develop Towers in Georgia
Civil Georgia, Tbilisi / 11 Mar.'11 / 11:30

U.S. real estate tycoon, Donald Trump, signed a deal at a ceremony in New York in presence of President Saakashvili, to develop two towers in Georgia with an estimated worth of up to USD 300 million.

Trump will license his name in Georgia and his company will manage the two properties, but so far he has no plans to put his own investment into the deal, The New York Times reported.

“We’ll decide whether or not we want to invest,” Trump said.
 
The Trump Organization, company in charge of Trump’s property development, will work in Georgia with the Silk Road Group, Georgian conglomerate with business interests in transportation, telecommunications, banking and real estate, to line up financing for the project and market the towers.

The planned projects involve the Trump Tower Tbilisi on Rose Revolution Square, a formerly Republic Square; another is the Trump Riviera in Batumi. Construction, which will be overseen by the Silk Road Group, is scheduled to start in 2013, The New York Times reported.

After the signing of the deal Donald Trump appeared at a joint news conference with President Saakashvili at the Trump Tower in Manhattan on a background of a large banner reading: “Trump Invests in Georgia”.

Trump praised Georgia and its leadership saying: “This is a country with amazing leadership.” Trump, who said was thinking about running for the U.S. President in 2012 more seriously now than ever, criticized the Obama administration and said he would decide whether to run or not by June.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2021, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
11