“Today’s date is symbolic and significant since it clearly demonstrates our country’s predictable, reliable and friendly environment for investors, giving them the stimulus to implement large-scale projects,” said Mariam Kvrivishvili, Georgian Minister of Economy and Sustainable Development, during the ceremony of Swissôtel Kobuleti Beach Resort construction commencement and the project’s official presentation.

According to the Minister, the Swissôtel Kobuleti Beach Resort project demonstrates how dynamically the tourism sector is growing in Georgia and how healthy the investment environment is in the country.

“The investment of USD 300 million is a very important decision for the Adjara region in general. It is especially welcome that this will be a multifunctional complex – accommodation facilities, as well as residential spaces. Entering such a high-class brand will contribute to Adjara’s tourist potential and improvement of tourist services and their quality,” she said.

Mariam Kvrivishvili further noted that the project’s operation will ensure jobs for locals and increased revenues for the country.

Through collaboration of Georgian market leader company Archi, Georgian developer NEXT, and global giant Swiss brand Swissôtel, a large-scale project will be implemented in Kobuleti, on the Black Sea coastline. The project will comprise an international-standard hotel and multifunctional residential complex. Its value is USD 300 million and is being implemented several minutes from Batumi, integrating Kobuleti into the largest tourism ecosystem in the region.

A symbolic capsule-laying ceremony was held at the Swissôtel Kobuleti Beach Resort site with the participation of Prime Minister Irakli Kobakhidze, Minister of Economy and Sustainable Development Mariam Kvrivishvili, Adjara Autonomous Republic Government Chair Zurab Pataradze, investors and representatives of the state and private sectors.