MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Natia Turnava took part in the opening ceremony of the accomplishment of another stage of the Redco Development project, “New Gudauri” in Gudauri.

At this stage of the project, the construction of seven apart-hotels has been completed, which involved a total investment of 85 million GEL.

Natia Turnava noted that when talking about the restoration of the tourism or a double-digit economic growth, the impact of such large-scale projects, such large contribution as the current project of Redco Development in Gudauri, must be mentioned in these achievements.

The Minister noted that such large-scale projects as by Redco are very valuable for its great contribution to the restoration of tourism as well as in terms of the Covid-19 pandemic as an illustration of the fact that the pandemic could not hinder the development process.

“Despite the pandemic, the company has completed the work and created 150 permanent jobs, where the vast majority of employees are locals. It is also noteworthy that 5 000 new rooms have been created, including these apartments, and by the end of 2025, when the project is fully completed, this number will double and the complex will have 10 000 rooms, which will host both international and local tourists,” – Natia Turnava said.

Redco has opened seven new apart-hotels – “Neo”, “Alpic” and “4 Seasons Gudauri” with the support of the TBC. New apart-hotels are part of the project New Gudauri and unites 852 premium class apartments. The total investment is 85 million GEL, and the total investment of the project New Gudauri is 200 million GEL.