Construction project 'New Life – Old Tbilisi' launched

The project 'New Life - Old Tbilisi' was based on the new look Georgian state- Tbilisi Mayor, Gigi Ugulava stated on August 10. He mentioned that the project has become very much related with constructive sphere.

According to the new project, the mayor's office promises Tbilisi residents to purchase dwelling houses from them, after their construction is completed.

The municipality promises to pay USD 400 per square meter, although constructors will receive the sum, after the dwelling houses are fully functional.

According to Ugulava, it will be a very important step forward for the construction business and will encourage the development and advance of some other adjoining directions, "the companies will have no difficulties with the banks, which are acting very carefully regarding debt. When the banks know that their money is safe, they will provide loans, which is very important as without such credit agreements, the companies will not be able to finish the building process," Ugulava, said.

As the Tbilisi Mayor underlined, the new initiative will be a very significant step forward for employment at the same time and focused on the second part of the project, concerning the damaged buildings of the capital, " we, on the one hand assist the constructive companies and on the other hand purchase living spaces for those people, who, step by step would be moved from damaged houses."

As the representatives of Saba Constructive company said, the initiative was a serious help to them. As they mentioned, they launched the construction process in 2007 and due to the crises, they had to stop abruptly, which created serious problems for the company and for the consumers. Now, in the frame of the project, they have renewed the process. Herewith, Representatives of the bank and construction sectors consider the new project as a start to a new relationship between banks and developers.

One of the leaders of opposition Republican Party, Tina Khidasheli, told The Messenger, "it is difficult to say how the initiative will solve the problem for those people who have been waiting for the completion of their flats for years and how the Tbilisi budget manages to share those risks and challenges. However, one must make strict demands. Even if everything goes as planned, the question of responsibility of the leadership of those companies which created such serious problems for consumers still needs answered, " Khidasheli stated and mentioned that as long as such companies and rulers would be allowed to walk freely, the problem would exist and people would have to wait for the day when the city's Mayor stopped throwing money in this direction.