From suspension to resurrection: Axis Towers come to life
Friday, October 23After seven years of suspension in construction, the country’s first twisted skyscrapers are being brought back to life.
The project to build the 41-storey towers in Georgia’s capital Tbilisi resumed after being stalled for the past seven years. Initially, the project attracted much public interest, but was suspended in 2008 due to the Russia-Georgia war.
An agreement was reached by developers and investors about the future of the innovative towers; real estate developers Axis will receive financial support from the Georgian Co-Investment Fund to complete the Axis Towers project.
The total investment value of the Axis Towers project was $83 million USD, and its shares were split 50/50 between Axis and the Co-Investment Fund.
While some changes have been made to the original plan to enhance the project, the twisting architecture of the buildings will remain the same. The multi-purpose complex will consist of two skyscrapers, one glass and one stone. They will be the tallest buildings in Tbilisi, standing at 147m high, occupying a total area of 94,000 m2.
Within the glass skyscraper, a five-star hotel will open, which will be operated by high-class French international brand Pullman, a member of the Accor Group. In the same tower, an A-class business centre will be located.
The stone tower will be occupied by residential apartments. Meanwhile, the complex will also feature an entertainment area, sport, recreation and commercial centres as well as a Sky Bar on the roof. The towers will be built in Tbilisi’s Vake district.
Prime Minister Irakli Garibashvili visited the construction site recently with the representatives from the Co-Investment Fund and Axis. He said the Axis Towers would contribute to developing tourism in Georgia.
Garibashvili also highlighted the importance of the Co-Investment Fund’s involvement in Georgia’s business sector, and said the Fund was financing 10 projects in Georgia worth $2 billion USD.
“The Axis Towers is completely Georgian project, which will be implemented by Georgian specialists. However, we are glad that the British engineering company, Arup Group, is also participating in this project.
About 1,000 people will be employed in the Axis Towers in the [construction] stage. Once it’s built, several hundred people will have steady employment here,” said Garibashvili.
The project was expected to be completed in 2017. Sales of apartments and other areas of the towers began this week. (agenda.ge)