30.04.2014. On April 24, Tbilisi City Hall released a statement that they rejected the project offered by Panorama Tbilisi on March 27, 2014. Georgian billionaire and former Prime Minister Bidzina Ivanishvili is one of the major investors in the project.
Panorama Tbilisi’s four multi-functional areas with a total investment of $500 million will be fully funded by the $6 billion USD Georgian Co-Investment Fund (GCF), which is a private equity fund.
The projects range across a variety of sectors totaling $1.3 billion USD including tourism and real estate, which will be allocated on half of the initial budget of half a billion USD. In addition, more than $770 million will be invested in two energy projects and $59.3 million USD will go towards developing Georgia’s agricultural industry with dairy farms and greenhouse projects.
Panorama Tbilisi’s four multi-functional areas with a total investment of $500 million will be fully funded by the $6 billion USD Georgian Co-Investment Fund (GCF), which is a private equity fund.
The projects range across a variety of sectors totaling $1.3 billion USD including tourism and real estate, which will be allocated on half of the initial budget of half a billion USD. In addition, more than $770 million will be invested in two energy projects and $59.3 million USD will go towards developing Georgia’s agricultural industry with dairy farms and greenhouse projects.