A state-owned property near Freedom Square in central Tbilisi has been sold at auction for GEL 34.81 million, more than double its initial price of GEL 14.08 million, BPN reports.
The National Agency of State Property said the property was put up for auction on July 30, 2025, and the auction closed on August 13. The bidding step was set at GEL 10,000.
The property is located at 2 Shalva Dadiani Street / 1 Kote Abkhazi Street and includes a 478-square-meter non-agricultural land plot and a building on the site. The building has protected cultural heritage monument status.
The office of the Information Center on NATO and the EU was located in the building until June 2025. At the time, both information centers were reorganized and placed under the Georgian Foreign Ministry.
Under the privatization terms, the buyer must, within a maximum of four years from signing the sale agreement, launch a commercial or business operation at the property, either directly or through a third party. The site may be used for office space, a hotel operated by an international company or its branch network, or a retail or food service facility. Retail outlets selling everyday essential goods are excluded.
The buyer must also invest at least GEL 5 million, excluding VAT, to fulfill these obligations.
In addition, within one month of signing the sale agreement, the new owner must sign a monument maintenance and preservation agreement with the National Agency for Cultural Heritage Preservation of Georgia and/or Tbilisi City Hall.
