90ha territory handed to a company to build artificial islands in Batumi worth $100mln

Adjara government in western Georgia has decided to hand 90ha territory to Ambassador Batumi Island company (with the right to build) to construct two artificial semi-islands and one island in Batumi with entertainment and recreation goals. 

 

The cost of the project is estimated as 100 million USD and is expected to employ 2,000 individuals. 

 

The Adjara government claims that it will be one of the largest investments in the region, while the islands will offer modern infrastructure and all opportunities to rest and entertain. 

 

Batumi Ambassador Island LTD was founded back in June 2021 by offshore registered Property Assets Investment.