The Ministry of Economy has not yet authorized a construction permit for Panorama Tbilisi, a $500 million project initiated by a fund established by former PM Bidzina Ivanishvili. However, the ministry has confirmed that a detailed discussion of the project has already been pushed forward.
Panorama Tbilisi yet to be Authorized
By Tatia Megeneishvili
Tuesday, January 20
Before the Ministry of Economy grants the required permission to the project’s initiators, the City Council (Sakrebulo) members must first discuss the importance and capacity of the investment.
First Deputy Chairman of the Sakrebulo Giorgi Tkhemaladze states that interest towards the implementation of the project is high.
”However, the project should not damage the construction area. We believe that Panorama Tbilisi will be beneficial for the capital city from an economic and tourist point of view,” he said.
Meanwhile, the Sakrebulo minority members view the issue differently.
According to United National Movement, member Irakli Abesadze has suggested that permission has already been granted.
“It’s unacceptable to lead with only economic interests when it comes to the historical part of Tbilisi. It is clear that the Ministry of Economy will issue the permit without any obstacles and not take the public’s interest into account,” stated Abesadze.
Panorama Tbilisi is funded by the Co-Investment Fund (GCF), which is a private equity fund created by the initiative of former Prime Minister Bidzina Ivanishvili, and envisages building four multi-functional areas in the old part of Tbilisi. In the case the project launches, the status of landscape-recreation zone will be removed from Sololaki hill.