The commencement of construction on the Swissôtel Kobuleti Beach Resort once again demonstrates that Georgia`s investment environment is stable, predictable and attractive to investors. The Prime Minister of Georgia said this at the groundbreaking ceremony of the Swissôtel Kobuleti Beach Resort.

He congratulated the investors on the launch of the project and wished them every success in implementing this large-scale development.

"The growth of tourism in Georgia is directly reflected in the development of the real estate market. Against this backdrop, we are witnessing a completely new dynamic, as the development process increasingly extends to our coastal regions, which is particularly important for the balanced development of the country.

Today, our coastline has become a space of new opportunities for projects that combine world-class hospitality, leisure and investment value within a single concept. This project planned on the Kobuleti coastline fully meets that standard. With a value of 300 million USD, it represents a significant investment. Importantly, the project is located just a few minutes from Batumi, integrating Kobuleti into the region’s largest tourism ecosystem.

It is especially encouraging that this initiative brings together recognized leaders in the field: leading Georgian company Archi, internationally active Georgian developer Next Group and the global hospitality giant, the Swiss brand Swissôtel. I am confident that through this cooperation the project will be implemented with great success. The major international partnerships recently established by Archi-including cooperation with The Trump Organization and the global residential development leader BI Group-are yet another clear signal of confidence in our country.

Georgia is steadily establishing itself on the global investment map as a transparent and secure economic hub", - said Irakli Kobakhidze.

He emphasized the importance of large-scale projects of this kind for the continued development of Georgia`s economy and noted that supporting such initiatives remains a priority for the Government, as new investment projects introduce the highest international standards, significantly improve the economic landscape of the regions and create new employment opportunities for Georgian citizens.

"Georgia continues to stand out for its strong economic growth. Over the past five years, our economy has grown by an average of 9.3 percent annually and this positive trend continues this year. Maintaining a high rate of economic growth is extremely important. Projects such as this one will make a significant contribution to the further development of both the economy and the tourism sector. Therefore, the Government will provide maximum support to the business sector in implementing projects of this nature", - added Irakli Kobakhidze.

Georgian development companies Archi and Next Group, in partnership with the globally recognized hotel brand Swissôtel, will construct a premium hotel and residential complex in Kobuleti. The Swissôtel Kobuleti Beach Resort will consist of three buildings and will feature a hotel, residential and investment apartments, indoor and outdoor swimming pools, as well as a wide range of supporting infrastructure. The total investment volume of the project amounts to 300 million USD.

Together with investors, the Prime Minister of Georgia, Minister of Economy and Sustainable Development and the Chairman of the Government of the Autonomous Republic of Adjara placed a symbolic capsule in the foundation to mark the commencement of construction.