Nodar Giorgadze, the President of Gino Holding, has devoted years to developing one of Tbilisi’s key recreational areas: Tbilisi Sea. Following the successful establishment of one of Europe’s top water parks, his next goal is to launch a unique urban seaside project called Tbilisi Boulevard, which is projected to be valued at €250 million.
Gino Holding has successfully completed numerous projects over many years. What is the history of the company?
Gino Holding began operating in Georgia in 2012 with the launch of the country’s first project, Gino Aquapark. This venture presented a new challenge and experience for me. My previous career was not in business; I spent half of my life in public service. I hold degrees in physics and law and am a Doctor of Economic Sciences.
I worked at the Ministry of Internal Affairs and held various public positions. I served as the acting Minister of Defense of Georgia, a member of parliament, and the chief military and political advisor to the President of Georgia. Additionally, I was Georgia’s Permanent Representative to the European structures of the United Nations. I take immense pride in being the first to raise Georgia’s flag at NATO. Furthermore, I served as the General Delegate of the World Organization of War Veterans for Central and Eastern Europe.
Since 2016, I have held the position of Honorary Consul of Georgia to Slovakia. Given my background, many were surprised by my decision to enter the business world. However, at the age of 50, I realized that it was now or never—it was time to channel my accumulated life experience and knowledge into my own business.
Choosing Tbilisi Sea was a deliberate decision. Compared to the city center, this area is less crowded, which helps maintain a comfortable and clean environment. It offers unique natural beauty, stunning views, a forest park, and, most importantly, the sea. Interestingly, even during the Soviet era, studies were conducted to identify the best climatic conditions for rehabilitating and treating cardiovascular diseases. The top locations highlighted were Baikal, Bichvinta, and the Tbilisi Sea area. The surface of Tbilisi Sea contributes to a humid climate, which is beneficial for patients with respiratory and cardiovascular conditions. This is why, in 1988-1989, a decision was made to build an international rehabilitation and treatment center in this location. Although the project never came to fruition, the unique microclimate remains. My concept of creating an aquapark in this area revealed the vast potential of Tbilisi Sea as an underutilized climatic resort. Today, Gino Aquapark is ranked among the top 10 aquaparks in Europe. Spanning 16 hectares, it features 10 open and indoor pools, a variety of jacuzzis, nearly 500 different slides, and numerous attractions.
Gino Aquapark is not only a seasonal entertainment venue but also a year-round leisure and wellness center. What key elements contributed to the success of this project?
Gino Aquapark is perfect for families seeking to relax and enjoy year-round fun. It features dedicated areas for both children and adults. The Gino Spa & Wellness Center boasts nine different types of saunas and offers visitors a range of massage treatments.
In 2023, the five-star Gino Seaside Hotel opened next to the aquapark. The hotel features 218 apartments, providing both comfort and a profitable opportunity for investors. The hotel includes a restaurant, bar, conference facilities, a swimming pool, and luxury rooms, guaranteeing a holistic experience for guests.
After years of work in this area, we have developed a comprehensive plan that strictly regulates development and allows only low-intensity construction. This strategy prevents unplanned and inconsistent building from the start, creating an ecologically clean and well-organized urban space.
Gino Holding has already invested €45 million in the construction and development of the aquapark, and this amount continues to increase each year. Additionally, nearly €20 million has been invested in the Gino Seaside Tbilisi hotel.
We plan our projects with the future in mind, focusing on building for tomorrow while embracing the present. Our developments meet contemporary demands and establish future standards by incorporating the best global practices. We create projects that stand out for those seeking modern living environments.
Your new project, Tbilisi Boulevard, is also part of a larger vision for developing the Tbilisi Sea area. What can you share about this project?
Residents in various districts of Tbilisi face numerous urban challenges, such as air pollution, continuous traffic congestion, and rapidly changing cityscapes that often appear vastly different from how they looked at the time of purchase. Moreover, there is a shortage of sports facilities, children’s playgrounds, and a lack of green spaces and adequate infrastructure. Given these concerns, we recognized the need to create modern residential spaces that harmonize with nature. This is precisely what Tbilisi Boulevard aims to achieve: it will be the only multifunctional residential complex in Tbilisi that offers proximity to Tbilisi Sea. The panoramic view of the sea provides aesthetic value and is essential for fostering a high-quality living environment. Therefore, long-term and strategic urban planning must prioritize preserving these views while adopting a development model that balances coexistence with nature, sustainable infrastructure, and residents’ comfort.
A unique waterfront area featuring a promenade will be developed as part of the project. I have always dreamed of having a boulevard like this in Tbilisi. This will be an 8,000 square meter shoreline where people can walk, relax, enjoy themselves, and spend quality time with their loved ones. Considering all these aspects, I can confidently say there is no comparable project in Tbilisi or the entire region.
What will the lifestyles of the residents of Tbilisi Boulevard be like?
My team and I believe life should not be divided into good and bad elements. That’s why we are creating environments where active, healthy, entertaining, and educational activities seamlessly blend into people’s daily lives. I believe—and want to convince others—that combining pleasure and practicality is achievable.
This lifestyle will become vital to their everyday reality on Tbilisi Boulevard, significantly transforming modern urban living. Everything we do aims to ensure residents experience peace as a fundamental aspect of their daily lives. We hope they carry this positive energy with them, spreading it throughout the city and into their social circles. That is what truly matters. A wise person once said, “Money is nothing but paper unless it is in motion. And money in motion is no longer just paper.”
The project envisions a mix of residential, commercial, office, and hotel facilities. How do you plan to integrate these different components?
Tbilisi Boulevard is the largest project in Gino Holding’s current portfolio, with a total investment of €250 million. It effectively serves as a resort within the city, transforming the seaside living experience from a short-term getaway into a luxury enjoyed every day. Covering 30 hectares, Tbilisi Boulevard is designed as an eco-city, incorporating modern green solutions throughout its various components. For instance, most buildings will include solar panels to reduce electricity costs significantly. Also, 3,000 unique trees will be planted, and an underground parking garage will be developed. Transportation within the area will be restricted to electric vehicles only. This comprehensive approach ensures that every aspect of the project contributes to a sustainable, comfortable, and modern urban lifestyle.
The project will integrate residential, commercial, office, and hotel facilities within a single space. It will feature a shopping center, the five-star Gino Seaside Hotel Tbilisi, two independent hotels/aparthotels, Hotel Boulevard, a business center with office and co-working spaces, a clinic, restaurants, cafes, a school, a kindergarten, and a standalone parking facility for 1,000 vehicles. Additionally, a rehabilitation and wellness center will be established. We will also create active recreation areas with sports fields, tennis courts, cycling paths, and gyms. This comprehensive infrastructure and range of services are designed to offer residents peace of mind, a sense of security and exclusivity, increased property value, and an enhanced quality of life.
Who are the partners involved in this large-scale project?
The Tbilisi Boulevard project has secured key financial partners. Bank of Georgia is funding the residential area, while the Slovakian state bank EXIM Bank, along with a Slovakian investor, is financing another segment of the project. We are also actively negotiating with leading global infrastructure development companies, esteemed schools, and kindergartens. According to the approved development plan, all these components will come together to create a space where daily life is pleasant, comfortable, and fulfilling for residents. From the beginning, my priority has been to understand people’s needs and enhance their quality of life. If I can achieve that, I will consider this project a success.
Slovakia is important to you. In addition to being a citizen of Georgia, you are also a citizen of Slovakia. Can you share some insights about Slovakia and your business initiatives there?
My journey in life and business in Slovakia started in 2003. I am incredibly grateful to this country, as it has enabled me to realize my business ideas, develop significant projects, and create value for society. My business activities in Slovakia span tourism, energy, and agriculture. One of our holding’s most important projects is Gino Paradise Bešeňová, a thermal water park recognized as one of the leading resort complexes in Central and Eastern Europe, attracting over 600,000 visitors each year. Aside from my business ventures, I actively participate in charitable initiatives. To date, I have invested €130 million in Slovakia and €120 million in Georgia. In the next five years, I intend to invest over €300 million in both ongoing and upcoming projects in these two countries.
Gino Holding undertakes a diverse array of projects in both Georgia and Slovakia. Besides the previously mentioned water park, our portfolio includes several notable developments: Gino Wellness Mtskheta, a hotel and wellness center located in the historic city of Mtskheta; Hotel Gino Wellness Rabath, a boutique hotel and wellness center within the 11th-century Rabati Fortress in Akhaltsikhe; Gino Sunrise Batumi, a hotel situated in Batumi, Adjara; and Gino Grand Hotel Melikishvili, a five-star multifunctional hotel complex in the heart of Tbilisi. One of our standout projects in Slovakia is Hotel Gino Park Palace, a boutique hotel and restaurant located in the city of Orlová within a 16th-century palace. This hotel has twice won the title of Europe’s Best Historic Wedding Palace. It features a cafe, lobby bar, atrium, restaurant, wellness and fitness center, Baroque-style chapel, wedding pavilion, and a 6.5-hectare historic English forest park.
Furthermore, we have developed solar power plants in Slovakia, which were established between 2010 and 2011.
This is a partial list of the projects my team and I are implementing in Georgia and Slovakia, with a total investment value of €250 million. This figure continues to grow each year as projects evolve and new initiatives are introduced. Traditionally, investors seek to maximize profit while minimizing expenses; however, I always focus on reinvesting profits into the business. I evaluate every project based on a key question: What benefit will it bring to the people and the country? This commitment is why many refer to me as an emotional investor.
What new developments are being planned in tourism, entertainment, and renewable energy?
Gino Holding primarily invests in tourism, the entertainment sector, and renewable energy. One of our key projects is a €22 million hotel located on Melikishvili Street in Tbilisi. This project has faced various challenges due to factors such as its prime location and the historical status of the building. However, I am pleased to announce that we are in the final stages of development, and the hotel is expected to be completed by summer this year. The Gino Grand Hotel will be a five-star establishment featuring a wellness and spa center, a fitness area, a ground-floor bar, and all essential services, including underground parking for 79 vehicles. We are currently negotiating with several international brands regarding hotel management.
Furthermore, we are planning an exciting new project in Bakuriani—a five-star boutique hotel with geothermal pools. This location is unique in Bakuriani as it is the only site where geothermal water naturally emerges, making it the ideal venue for our hotel. I believe guests will thoroughly enjoy the relaxing experience of unwinding in a geothermal pool after a day of skiing.
We are constantly expanding our water park. Plans to enhance the largest wave pool will increase the indoor area by 3,000 m² during the winter season. This expansion will allow us to host up to 2,500 visitors at the same time during the winter and up to 5,000 guests at one time in the summer.
Following our investments in Slovakia’s energy sector, we are now focusing on Georgia’s energy industry. We are in the process of constructing a 50 MW solar power plant in Gardabani, with a total investment of €28 million—of which €3.5 million has already been invested. We plan to continue our investment activities in the energy sector, as we see significant potential in this area. One of the most crucial projects in this regard is the Black Sea Submarine Cable. Once implemented, this project will unlock Georgia’s vast energy potential and create new opportunities for the region.
