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After collecting art for over 23 years and leading the largest telecommunication company in Georgia, Jokhtaberidze saw an opportunity to buy real estate right in front of the building of Parliament of Georgia. He then commissioned the construction of a complex of buildings that would become the Georgian Museum of Fine Arts and the Art House.
GIG are also involved in commercial real estate, construction materials, beverages and metal works. The largest subsidiaries and affiliated companies of GIG are Georgian International Energy Corporation, Mtkvari Energy, Saknakhshiri, CPower, Tiflis Group, Globaltrans and Kutaisi Auto-Mechanical Factory.
The real estate developer Rakeen, owned by RAK Airways, RAK Properties, and Reyada Company (owned by the sheikh's family), pledged to develop the 200,000 square meter plateau into a luxury residential and commercial neighborhood, dubbed Tbilisi heights. [1] Although glossy promotional material was prepared, nothing has ever been constructed.
When the owner of the real estate sells the property within two years from the buying, your income from the sale is subject to a 5% tax. Income is determined as the difference between the purchase and the selling price. [13] If the owner sells property after two years, no income tax is applied.
Tbilisi (English: / t ə b ɪ ˈ l iː s i, t ə ˈ b ɪ l ɪ s i / ⓘ tə-bil-EE-see, tə-BIL-iss-ee; [7] Georgian: თბილისი, pronounced [ˈtʰbilisi] ⓘ), in some languages still known by its pre-1936 name Tiflis [a] (/ ˈ t ɪ f l ɪ s / ⓘ TIF-liss), [7] (Georgian: ტფილისი, romanized: t'pilisi [tʼpʰilisi]) is the capital and largest city of Georgia, lying on ...
Tamir Sapir (born Temur Sepiashvili, Georgian: თემურ სეფიაშვილი; 1946/1947 – September 24, 2014) was a Georgian-born, Georgian-American businessman, real estate developer and investor. [3] He was the founder of the Sapir Organization, a real estate investment firm based in New York City.
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