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New plan for construction of residential buildings in Tbilisi

Friday, March 14
The news has been disseminated through the official channels that one of the investment holding companies from the United Arab Emirates concluded a memorandum with the Tbilisi government that it would invest 600 million USD in a residential construction project in the city.

This project envisages the dismantling of residential buildings called “Khruschevka” and constructing new buildings instead. A “Khruschevka” is a type of residential building that was built in the late 1950s and early 1960s by then leader of the Soviet Union Nikita Khruschev, in order to reduce the pressures from the housing crisis.

Multiple buildings were constructed in those years in Tbilisi satisfying around 350,000 families with apartments. The buildings are 5-6 stories, have no elevator, were constructed with universal standards and were made to expire after about 70 years from the date of construction.

The state promises to resettle the population in new buildings by the time of their dismantling. The news of the possible re-building of whole districts has been differently assessed in Georgia.

Some analysts suggest that 600 million USD will not be enough to satisfy all the residents living in “Khruschevka” buildings.

As the investor has announced, instead of 5-6 storey buildings, 15-storey blocks of flats will be constructed, which will include office spaces apart from the residential areas with the relevant infrastructure.

If everything goes on well the project will be launched in four months.

The analysts suggest different calculations, which confirm that the project needs a more realistic approach. (The Messenger)