State property sold for the highest price – TOP 10

In Georgia, the State Service Agency is the agency that most frequently sell the property through electronic auction. In the first half of the year (January-June), over 60% of lots were brought by the Agency. Most lots at the auction are transport means and electric equipment.

However, most expensive lots are land and buildings.

Within the period between January and June, the highest price at the auction was registered for the following 10 properties:

  • The agricultural land plot in Ninigori Village, Lagodekhi municipality – this property was brought to the auction by the National Agency for State Property. The right to lease the land was issued for 22.4 mln GEL. The initial price for the property was 14 250 GEL. Three participants of the auction would not compromise and after the bid increment was set at 15 724, the price of the property exceeded 22 mln GEL. However, as stated to Forbes at the National Agency for State Property, the agreement on transferring of the property has not been concluded after the auction.
  • 2 land plots and a building in Tbilisi, Khevdzmari Street – the property was brought to the auction by NASP and it was sold for 18 080 000 GEL.
  • 523 gondola cars were sold through the electronic auction by Georgian Railway for 8 212 216 GEL.
  • Another land plot in Ninigori Village, Lagodekhi Municipality was transferred for 6.6 mln GEL. Its owner is NASP.
  • NASP transferred a land plot in Dmanisi with constructions on it with the right for lease for 5 056 320 GEL.
  • A land plot with constructions on it was also transferred with the right for lease in Stepantsminda for 5 mln GEL.
  • A land plot in Tbilisi, Chiladze Street was transferred for 3 800 000 GEL.
  • Akhtala Resort was transferred by NASP for 3.7 mln GEL.
  • A land plot in Batumi was transferred by NASP through electronic auction for 2.9 mln GEL.
  • The Tbilisi Auction House sold through the electronic auction a non-agricultural land plot with constructions and vehicles in Natakhtari for 2.7 mln GEL.

As it turned out, in the first half of the year, the most expensive lots sold through the electronic auction were those belonging to NASP. During the six months of this year, the National Agency for State Property of the Ministry of Economy and Sustainable Development ensured mobilization of 62 793 581 GEL in the state budget by selling state property. Properties sold by the Agency for the highest price are:

  • Real property at 9, Ambrolauri/Otar Chiladze Street, Tbilisi – buyer: Ameri Development, Ltd.; selling price 3 800 000 GEL, investment to be made on the site – 10 000 000 GEL.
  • Libani Village, Borjomi – buyer: GND, Ltd.; selling price – 1 300 000 GEL; investment to be made on the site – 8 000 000 GEL.
  • 1, 26 May Street, Tskaltubo, Iveria Hotel – buyer: Iveria palace, Ltd.; selling price – 500 000 GEL. investment to be made – 10 000 000 GEL.
  • Merstia, Seti Square – selling price 1 108 500 GEL.
  • Surami Village, Khashuri – selling price 890 000 GEL.
  • The area adjacent to Ilia Lake in Kvareli – buyer: Ghvinis Gza 2017, Ltd.; selling price: 152 000 GEL. Investment to be made – 5 000 000 GEL.

This year, NASO privatized 2 state enterprises – JSC Akhtala Resort and Pipia Public Clinical Hospital, Ltd. Total amount received by the budget from transferring the enterprises was 4 190 000 GEL. For the development of Akhtala Resort, 12 000 000 GEL will be invested.

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