The National Environment Agency made an environmental decision to construct an artificial island in Batumi. As a result, the company "Ambassador Batumi Island" was given the right to implement the embankment dam project in the coastal area near Odysseas Dimitriadis Street and the railway station in Batumi. Embankment works should be completed in 14 months.
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"Ambassador Batumi Island" is planning to create two artificial peninsulas and one island of recreational and recreational type in this area and arrange infrastructure on them.
On September 20, 2021, the chairman of the government of Adjara announced the construction of an artificial island in Batumi. He said it would be a project similar to the Palm Islands of Dubai: "Several hundred million dollars will be invested. On the one hand, this will be a unique project in its importance, and we will already be able to keep up with world progress. But, on the other hand, we will be able to create a new tourist location in the sea, adding new economic opportunities and jobs.
To implement the project, an investment agreement was signed between "Ambassador Batumi Island", the Ministry of Economy and Sustainable Development of Georgia and the government of Adjara on September 29, 2021.
The government of Georgia gave the company 89 hectares [891,258 square meters] of land in the sea at a symbolic price of 1 GEL and for 65 years, with the right of construction.
According to the terms of the agreement, the investor must obtain project permits for two artificial peninsulas and one island in the transferred territory within 48 months; In 78 months, the first peninsula on the part of 12 hectares should be completed, and in 102 months, the second peninsula should be created on at least 15 hectares; Within 132 months, the investor must also make an island of at least 5 hectares; Hotels with at least 500 rooms, shopping centres, residential buildings, seaside boulevard, public beaches, water parks, yacht club, educational institutions should be arranged on the peninsulas. According to the agreement, the amount of investment is 100 million dollars.
On July 26, 2022, the Government of Georgia granted the status of a unique object to the project of an artificial island in the Black Sea in Batumi.
"Ambassador Batumi Island" LLC was registered on June 14, 2021. The owner of 82% of the company's shares is Property Assets Investment LLC, based offshore of the British Virgin Islands, and "Batumi Island" LLC owns 18% of the claims, 100% of which belongs to Fridon Katamadze, a dual citizen of Georgia and the Russian Federation. The owner of "Ambassador Group" is the family of Elguja Keburia, a businessman working in Russia.
"Ambassador Group" owns the hotel-resort complex "Ambassador Kachreti" hotel complex "Tbilisi Ambassador". The Keburis are building a hotel on Batumi Boulevard, originally supposed to be four-storey. Batumi boulevard is a cultural heritage monument, and experts consider it unacceptable to build a 16-story building on the boulevard due to changing the project, which was not provided for in the final agreed project, and the 17th floor was made. The same business group owns the newly built hotel complex "Ambassador Goderdzi" on the Goderdze Pass and several restaurants in Russia and Paris.
