Armenians, Azerbaijanis Interested in a Piece of Kobuleti’s Pie

Twenty-two investors, who plan to build 39 hotels, have expressed interest in the “free tourist zones” of the Georgian resort town of Kobuleti. Six applications were submitted by foreign investors. 

In addition to Azerbaijan and Russia, the list of countries who are among those who wish to build hotels in Kobuleti includes Armenia, Belarus, Spain and Israel, reports Aze.az.

Hotels being built in this area of Kobuleti must be completed and operational by Aug. 1, 2011. Georgia’s parliament is discussing a bill, according to which if investors are unable to implement their projects by the stated date, then they will lose their share.