Trump Pulls Out of $250 Million Tower Plan in Black Sea Resort - Bloomberg
08 January, 2017
Trump Pulls Out of $250 Million Tower Plan in Black Sea Resort - Bloomberg
Bloomberg reports about the future of Trump Tower project in Batumi, Georgia’s Black Sea resort.
“Donald Trump’s company pulled out of a proposed $250-million tower project in the Georgian Black Sea resort town of Batumi, the latest effort by the U.S. president-elect to defuse charges that his global businesses will cause conflicts of interest once he enters the White House.

The Trump Organization and its local partner in Georgia, the Silk Road Group, said in a joint e-mailed statement that they’ve decided “to formally end the development of Trump Tower, Batumi.” The project, a 47-story residential condominium, was announced in 2012 by Trump and then-Georgian President Mikheil Saakashvili. Silk Road said it will go ahead on its own with a luxury tower in the town, once dubbed the Monte Carlo of the Caucasus by Trump.

The organization announced last month it was ending real-estate projects in Brazil and Azerbaijan, in what Executive Vice President Alan Garten described as “housecleaning” ahead of Trump’s Jan. 20 inauguration. Political opponents have said his business interests could prejudice U.S. foreign policy -- especially in the former Soviet Union, given Trump’s professed admiration for Russian President Vladimir Putin.

The prospect of a U.S.-Russian thaw is of special concern to Georgia, a close American ally that still aspires to NATO membership. The country, at the crossroads of key energy routes to Europe, fought and lost a war with Russia in 2008 over breakaway provinces, and about a fifth of its territory remains under the control of pro-Russian forces.

The
Trump Tower in Batumi was widely assumed to have been shelved when Saakashvili lost power in 2013 and was later stripped of his Georgian citizenship. But Giorgi Ramishvili, Silk Road’s founder, said a month ago that it was still on track.

Ramishvili, contacted by phone today, didn’t elaborate on why it’s been abandoned now, and also declined to comment on whether he’ll be attending Trump’s inauguration.

Photo: Georgia's President Mikheil Saakashvili, left, and Donald Trump shake hands during a press conference, on March 10, 2011.

Related Stories:

Kakheti region among 15 perfect places for Americans to emigrate to – The Telegraph


Donald Trump captured together with Georgian celebrities


How celebrities react to Donald Trump becoming US President
Print
Other Stories
New Georgian-Swiss farm to be established in Racha
Georgia’s highland region of Racha that is oftened compared to Switzerland due to its landscape and beauty will become home to yet another Georgian-Swiss farm.
The easiest way to make Khinkali – Novel mind-blowing Georgian product
Now anyone can prepare delicious Georgian dumplings Khinkali without much effort in very short time.
What H & M clothing will cost in Georgia?
Soon H & M store will be opened in Georgia.
Tushetian Guda Cheese sold in California and New York – Young Entrepreneur revives Georgian cheese making traditions
It has already been two years since Giorgi Abulidze began to produce the Tushetian cheese together with his brother.
Forbes: Georgia's Tourism Strategy is Starting to Pay Off
Forbes publishes a very interesting article about Georgia’s tourism strategy.
First walkways above trees soon to be set up in Georgia
Wooden walkways will be arranged in Lagodekhi Protected Areas,
Swiss Chocolate Company Camille Bloch to produce nuts in Imereti, Georgia
Chocolate manufacturer Swiss company Camille Bloch plans to produce nuts in Imereti,
Georgian bay leaf exported to Kuwait, South Korea and Hong Kong
Georgian bay leaf is being exported to Kuwait, South Korea and Hong Kong.
EU supported rural development project is launched in Khulo Municipality
On 15th of September, EU launched a new rural development project in Khulo.
"Thank you for your trust" – All the apartments at the Green Diamond complex were sold 9 months before the end of the construction
This is an unprecedented result that was achieved by the largest building complex in Tbilisi.
For Participants of the Welcome to Georgia! National Tourism Awards Registration is Prolonged till 17 September
If your main activity is connected to the tourism and/or hospitality industry,
First Georgian whisky Jimsher wins silver medals at World Whisky Masters 2017
Georgian whisky JIMSHER won the international competition
What is the prospect of wind energy in Georgia?
Alternative energy has been popular in many countries of the world in recent years.
Stylish beer bottles with creative artworks by Georgian artists
Georgian beer brand Argo launched limited series of beer called “Special Exhibition”
Squish - Chic lingerie with playful twist made in Georgia
More and more new fascinating startups are emerging on Georgian market
World’s fashion retailers to produce jeans in Georgia
ZARA, MANGO, Bershka, Massimo Dutti will produce jeans in the small town of Ozurgeti, in Georgia’s western region of Guria,
Investing in energy efficiency in Georgia
Private sector is a key driver for growth, employment and innovation in Georgia.
Georgia’s huge Enguri Dam to transform into a tourist zone
The Enguri Dam represents not only a hydroelectric station, but it is one of the most beautiful and breathtaking sights of Georgia.
Who were the first Georgian oil producers  – Prominent figures of 19th century
When and where was the oil produced in Georgia, how the legendary Siemens brothers were involved in this business and who were the Georgian pioneers in this field
The partnership memorandum signed between “Personal Lawyer Agency” and airline company “Atlasglobal Georgia”
The partnership memorandum has been signed between “Personal Lawyer Agency” and airline company “Atlasglobal Georgia”,
Wataniya Airways PR Director captivated by Georgia
Wataniya Airways, the latest Kuwaiti national aviation company, launched its first scheduled flights
H&M store to be opened in new shopping center in Tbilisi
The new shopping center "Tbilisi Gallery" will be opened in autumn.
  Pelamushi with dried fruit and walnuts hits the market - Georgian students' startup
New Georgian product, grape pudding with dried fruit and walnuts, known as pelamushi, hit the local market 3 months ago.
Startup Grind Georgia to assist Georgian startups on their way to success
Startup Grind is a global startup community designed to educate, inspire and connect entrepreneurs from all over the world.
Restrictions on the use of plastic bags to be imposed in Georgia
New regulations to reduce the use of plastic bags will be introduced in 2018.
GEL Exchange Rate
Convertor
23.10.2017
24.10.2017
USD
1
USD
2.4864
2.4894
EUR
1
EUR
2.9344
2.9240
GBP
1
GBP
3.2753
3.2783
RUB
100
RUB
4.3213
4.3300
PHOTO OF THE DAY
Other Stories
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
Some of Georgia’s commercial banks are already buying at 2 GEL per $1. Their webpages are publishing information regarding national currency’s exchange rate in real-time mode.
Georgia's central bank governor Giorgi Kadagidze says Ukraine is in the same bind as Georgia was in when Russia banned its neighbor’s exports in 2006
GEL Exchange
USD
1
USD
2.4894
EUR
1
EUR
2.9240
GBP
1
GBP
3.2783
RUB
100
RUB
4.3300