5-star Sheraton hotel will be reopened in Tbilisi, Georgia in September, after 3-year closure. Minister of Economy of Georgia, Dimitri Kumsishvili, discussed the hotel opening issue during a meeting in Dubai with Sheikh Saud Bin Saqr Al Qasimi. According to the minister, the hotel renovation will cost $51 million in total, while additional $9 million will be spent in the entertainment center.
The Ras Al Khaimah Investment Authority (RAKIA) invests over $220 million in the current projects in Georgia. Up to now RAKIA has invested $400 million in the country.
