A partnership agreement was signed between the Bank of Georgia, the EBRD and Grand Mall Batumi, as a result of which a new shopping center will be opened in Batumi.
The total cost of the project is 20 million Euros, with a loan of 7 million Euros, which will be fully used to complete the construction of the shopping center.
Within the framework of the partnership, the company will additionally receive a grant for energy-efficient equipment and construction materials within the framework of the EBRD’s FINTECC program, their donors are the European Union and the Global Environment Facility.
The new mall will open in autumn 2023, where more than 100 brands will be represented, among them, Massimo Dutti, ZARA, Mango, Stradivarius, Tommy Hilfiger, Gant, Guess, US Polo and others. The mall will have food outlets and a cinema, as well as fitness and children’s entertainment centers. The building of the shopping center will be energy efficient, which will reduce energy consumption to 35%.
According to current data, this project will create more than 750 jobs. Energy-efficient technologies, mean less energy usage in the operation of the shopping center, which is an investment in the future.