The Government established first “Free Tourism Zone” in Kobuleti. Ministry of Economy and Sustainable Development of Georgia started accepting statements from physical and legal entities concerning construction of hotels with the intention to develop Kobuleti “Free Tourism Zone” (so called “Pichvnari” territory, 140 meters from the sea.)
Three plots of land with the area of 11.3ha have been allocated initially for 27 hotels to be constructed on the territory, however the number of hotels was increased to 30 by the Commission of Kobuleti “Free Tourism Zone” Promotion. Three types of hotels have been determined. The investor will have to make a choice out of these options. The number of floors of the hotels is also determined: 5, 6 or 7 floors. Government ensures the management of the construction building land at a symbolic price, as well as handing project construction documentation to the client for free. Government also takes responsibility for 15 years income and property tax exemption. Moreover the territory will be provided with Engineering Utility Networks and corresponding infrastructure.
To see the Kobuleti Free Tourism Zone project description please follow the link. Application can be downloaded here.
Deadline for the submission of hotel construction projects for the development of Kobuleti “Free Tourism Zone” was switched from October 30 to March 15.
At this stage the construction of 12 hotels is in process. One of the main terms for investors is that the construction of the hotel must be completed in 15 months from the day of signing the agreement.
For detailed information contact:
Georgian National Investment Agency
Contact numbers: 106394; 106392
E-mail: g.tsikolia@investingeorgia.org; zurabz@investingeorgia.org
