The building located at #12, Chanturia Street, Tbilisi, which houses the Ministry of Economy and Sustainable Development of Georgia, was sold by the LEPL National Agency of State Property for $9 450 000. The interest towards this real estate was quite high and unprecedented number of bids were placed - 690 bids in total.

Unincorporated entity, Ms. Tamar Maziashvili, became the winner of the e-Auction is obliged to pay $ 9 450 000 for the property stated for privatisation. The starting price for this auction lot was $ 6 000 000.

According to the privatization conditions, the winner company is obliged to pay the above mentioned sum within 30 calendar days from the completion of the auction. The auction winner must ensure the creation and commissioning of at least 100-room hotel within the 36-months period starting from January 1, 2016. According to the terms of the auction, the employees of the Ministry of Economy and Sustainable Development and its subordinated organizations can use the property free of charge until December 31, 2015, inclusive.

The total area of land of the real estate located at #12, Chanturia Street, Tbilisi, is ​​4210.00 m2, while the building area is 11271.52 m2. The property slated for privatisation also has its own parking lot.