10 Former Sanatoriums in Tskaltubo Again Not Sold - Auctions Fail

Investors again showed no interest in buying 10 former sanatoriums in Tskaltubo. Auctions announced by the National Agency of State Property did not take place. The relevant auctions were announced on October 15 and ended on November 13. The starting privatisation prices of the objects totalled GEL 49.2 million, while the winning investors were to take on an obligation to invest at least GEL 314 million (excluding VAT) in the development of the territories in total.