“ Maia Lomadze, public relations manager of the Silk Road Group, told RFE/RL on June 25 that the Trump Organization will jointly work with the Silk Road Group to invest in business projects in Tbilisi and the Georgian port city of Batumi. Lomadze added that Trump Organization Vice President Michael Cohen will visit Georgia on June 29. [...] Trump reportedly discussed the possibility of investing in Georgia in April during a meeting with Georgian President Mikheil Saakashvili in New York City, where the Trump Organization is headquartered. [...] The Georgian President's Office said Ivana Trump is also planning to invest in Georgia, namely, to set up a multifunctional entertainment center in Batumi. ( Radio Free Europe, June 26, 2010) Michael Cohen sent to Georgia
“ Entrepreneur and real estate mogul Donald Trump is considering real estate investments including casinos and golf courses in the former Soviet republic of Georgia. He has sent Michael Cohen, executive vice president of the Trump Organization, to the country to sound out possibilities after being impressed by the country's president Mikheil Saakashvili on a recent trip to New York. [...] Cohen visited 13 potential development sites and said he was impressed by the Black Sea coastal town of Batumi. It is largely an unknown destination outside central Europe but is a popular destination for tourists from Central Asia due to a temperate climate and proximity to the Turkish border. (Realty Plus, July 16, 2010) Georgian President announces Trump development deal
“ US property tycoon Donald Trump has agreed to build one of his iconic Trump Tower developments in the tiny former Soviet republic of Georgia, the Georgian presidency said Wednesday. Trump signed an agreement with Georgia's President Mikheil Saakashvili in New York to build the tower, the presidential administration said in a statement. It provided no financial details of the agreement and said a decision had not yet been made on where the building would be located. [...] Saakashvili was in New York for the UN General Assembly session and for meetings with potential investors as he seeks to revive Georgia's struggling economy. Georgia's once-booming economy has suffered from investor flight due to the global economic crisis and its five-day war with Russia in August 2008, contracting by 3.9 percent in 2009. The Georgian government is seeking to revive interest from investors after foreign direct investment plummeted last year by 51 percent, in particular by touting its Black Sea coast as a holiday destination. (Agence France Presse, September 22, 2010) ”Final Deal Announced in New York
“ For Georgia's president, it was a chance to show that his country, the former Soviet republic, is grand enough to attract the world's best-known real estate developer. And for that developer, Donald J. Trump, it was yet another opportunity to demonstrate that he is world class. In a ceremony with caviar and wine at Trump Tower in Manhattan on Thursday, Mr. Trump signed a deal to develop the two tallest towers in the republic of Georgia, the former Soviet state at the nexus of Eastern Europe and Western Asia. Giving his blessing to the deal was Mikheil Saakashvili, the flamboyant, English-speaking president of Georgia. Mr. Saakashvili is eager to attract foreign investment as he tries to yank his impoverished country from the Russian orbit and align it more closely with the United States. Mr. Trump, the world's first virtual developer, will not actually build the towers. At this point in his career, he is more inclined to license use of the Trump name on someone else's building than develop a property himself. [...] Any actual construction, if it begins as scheduled in 2013, would be overseen by Giorgi Ramishvili, chairman of the Silk Road Group, one of the largest private investment companies in the south Caucasus region. The deal, which the partners estimate at $300 million, calls for two projects. The Trump Tower Tbilisi would go up on Rose Revolution Square in Georgia's capital. The Trump Riviera would be part of a planned Silk Road complex that includes a casino, an exhibition hall and a marina, in the resort city of Batumi on the Black Sea, near Turkey. The residential buildings will each contain 100 apartments and rise nearly 40 stories -- average by New York standards, but nearly twice the size of the republic's tallest structures. [...] In Georgia, Mr. Trump will license his name, and his company will manage the two properties. He will also work with Silk Road to line up financing for the projects and market the towers. Mr. Trump said that so far he had no plans to put his own cash into the deal. [...] Mr. Saakashvili has been eager to draw celebrity foreign investors to show Georgia is again open for business, after the global recession and a war with Russia in 2008 dried up the foreign direct investment that had been propelling the economy. [...] Before the Russian war, Georgia had attracted about $2 billion a year in foreign investment. Mr. Saakashvili welcomed the inflow as an endorsement of his pro-Western reforms. During the crisis, Georgia pivoted to work with Middle Eastern investors like the sovereign wealth fund of Ras al-Khaimah, one of the United Arab Emirates. That fund bought the Georgian port of Poti on the coast just north of the site of Mr. Trump's planned tower in Batumi. [...] While Mr. Trump is the first large American developer to come to Georgia, some locals have worked with American partners or financing from United States banks, Irakli Matkava, a deputy minister of economy, said in a telephone interview. Silk Road, which recently opened the Radisson Tbilisi hotel in the capital, expects to open another hotel, the Batumi Radisson this summer. Tourism is a relative new field for Silk Road, which is a major fuel trader and transporter, and also the largest Internet provider in Georgia. The company also has a contract to move American military equipment to Afghanistan from Iraq.
The Georgians seem to have had their eye on the Trump clan for some time. Two years ago, Giorgi Rtskhiladze, an assistant to the chairman of Silk Road, invited Mr. Trump's Czech-born ex-wife, Ivana Trump, to Georgia to consider investing there. (New York Times, March 11, 2011) ”Trump Uses Ceremony to Criticize Obama
“ Donald Trump can set aside any lingering doubts about his chances of becoming president -- at least if it's the presidency of ex-Soviet Georgia he wants. In the midst of flirting with a 2012 White House run, the developer and brash reality TV star won an unexpected vote of confidence Thursday during a New York meeting with Georgian President Mikheil Saakashvili. "If he decides to run for president in Georgia, he might win," Saakashvili joked in answer to a reporter's question to Trump about his will he/won't he US presidential plans. Trump, sitting next to Saakashvili in Manhattan's Trump Tower, was more coy, saying that he is seriously considering a bid to unseat President Barack Obama, but that there will be no decision before June. "I'm seriously considering it because of what's happened to our country that I love," he told reporters. Trump even touted his meeting with Saakashvili, where the developer signed an investment deal for Georgia's Black Sea resort of Batumi, as proof of his made-for-the-presidency foreign policy credentials. "Of course. I am dealing with one of the great leaders of the world," Trump said, looking over at Saakashvili. (Agence France Presse, March 10, 2011) ”Local Media Falsely Reports Trump Will Invest $250 Million
“ US businessman Donald Trump "plans to invest 250 million dollars in Georgia" and will "certainly" visit Georgia in the near future, the privately owned Rustavi-2 channel reported on 11 March. [...] While all three main national TV channel's presented the move as Trump investing money in Georgia, reports in international media suggest that Trump's will be managing the project and that the starting capital of 250m dollars is being put up by Georgian company Silk Road Group, which owns several businesses in Georgia, including the country's largest internet service provider Silknet, the Wissol chain of petrol stations and the Radisson hotel in Tbilisi. It is also involved in the transportation of oil and petroleum products to and from Central Asia. (BBC Monitoring Trans Caucusus Unit, March 11, 2011) ”Georgian government portrayed deal as a PR coup
“ The square may soon be getting another landmark building, after larger-than-life US property tycoon Donald Trump signed an agreement this month to help develop one of his signature towers there, plus another in the coastal resort of Batumi. The deal was a PR boost for the ex-Soviet state which is struggling to lure back foreign investors following its war with Russia in 2008 and the global financial crisis. But statistics published the day after the agreement suggested that Georgia needs more help than the flamboyantly-coiffured US magnate has to offer. [...] The Georgian economy was propped up by $4.5 billion (3.23 billion euros) of US and EU aid and loans after the 2008 conflict, which maintained stability during the global crisis and enabled a post-war return to growth. Inflation, poverty and unemployment remain critical problems, however. "Georgia is located in a troubled region," said independent economic analyst Demur Giorkhelidze. "Investors need a predictable government with a well-considered economic policy which makes calculated political steps." Local critics were quick to note that although Trump signed a deal to allow the proposed luxury towers to be branded with his name and help raise financing for construction, he didn't actually commit any of his own funds to the estimated $250 million (180 million euro) project. But despite this, the government is optimistic that the US tycoon's celebrity allure could act as an advertisement. "When someone like Trump decides that Georgia is the right place to put his brand name, a lot of other companies will feel comfortable following in his footsteps," said economy minister Kobalia. (Agence France Presse, March 20, 2011) ”Trump had earlier ties to Saakashvili
“ The other day, the President of Georgia, Mikheil Saakashvili, came to town to see an old friend: Donald Trump. [...] Saakashvili, who is six feet three, with close-set eyes and floppy black hair, explained that he had been a Trump fan since the mid-nineties. After getting a master's in law from Columbia, he worked at a New York firm that was a Trump tenant. "I met him in an elevator," the President recalled. "He asked me whether we liked the building. I said to him, 'You better fix the showers on our floor,' and it was done within, like, twelve hours."The Trump touch left an impression. "I always stay in New York in Trump hotels," Saakashvili said; this time it was the International Hotel and Tower, at Columbus Circle. (New Yorker, April 18, 2011) ”Trump presented with award during visit to Georgia
“ The President of Georgia Mikheil Saakashvili awarded American billionaire and media tycoon Donald Trump with "Order of Lights". The ceremony took place on Saturday evening at the presidential palace in Tbilisi. "The fact that Mr. Trump is in Georgia, is the clearest sign that Georgia is a right way and develops. To see this I need no ratings, assessments of international organizations, as there is one of the most successful businessmen in the world and that's said, "- Saakashvili underlined. He noted that Trump's decision to invest in Georgia and to build a "Trump Tower" is a recognition of Georgia's success. "Despite all the problems that exist in Georgia, Trump decided to keep his business here. Georgia is the only country in Europe, excluding Turkey, where he has his own interests, where "Trump Tower" will be built," the president of Georgia said. In turn, Trump thanked Saakashvili for the award and said that he saw how much is being built in Tbilisi, and how many projects there to implement. "I am delighted to visit here and I will be glad if I see new things on each visit" - he stressed.
Trump arrived in Tbilisi today and tomorrow he will attend a presentation of "Trump Tower" project in Batumi. (Trend Daily News Azerbaijan, April 21, 2012) ”Project Details
“ U.S. real estate developer Donald Trump has joined Georgian President Mikhail Saakashvili to unveil plans for a luxury apartment complex along the Black Sea coast. The plans call for the 47-storey Trump Tower to be built in Batumi by the Silk Road Group under a licensing agreement signed in New York last year. Saakashvili said during the April 22 presentation in Batumi that the Georgian conglomerate expects to have the necessary funding by the end of this year, with construction expected to start in early 2013. (Radio Free Europe, April 22, 2012) ”Local Broadcasts Plug Trump Investment
“ Text of report by private Georgian news agency Kavkas-Press "Tbilisi, 23 April: Georgian Economy Minister Vera Kobalia has reiterated that US businessman [Donald Trump's] visit to Georgia is a sign of the green light for investors across the world. "Trump spent only two days in Georgia [on 21-22 April], but this fact has already triggered unprecedented interest of investors and the international media," Kobalia said. [...] "Trump['s visit] is a real sign of 'green light' for Georgia in terms of attracting new investments. This is only the beginning and yet another step in Georgia's development and job creation," Kobalia noted. Let us remind you that the Trump Tower project was unveiled in [Georgia's Black Sea resort] Batumi on Sunday [22 April], which is implemented by the Silk Road Group under the brand name of US billionaire Donald Trump. (BBC Trans Caucasus Monitoring Unit, April 23, 2012) ”Trump Claims He Is "Considering" $100 Million Investment in Georgia
“ US property mogul Donald Trump is considering investing more than $100 million in a residential high rise on the Black Sea coast of Georgia as he considers projects in other former Soviet Union countries. "I'll be putting something in, but that has not been determined yet. For the job itself, it will be more than $100 million," he said during a visit to the capital city Tbilisi. Trump, who travelled to Georgia after a visit to Istanbul, unveiled the 47 story Trump Tower Batumi project with Georgian President Mikheil Saakashvili and partner Silk Road Group, one of the country's biggest private investment companies. "Batumi is becoming quite a place, it's the best location, the Monte Carlo of the region," Trump said. Silk Road will be responsible for fundraising, he added. [...] "As Georgia becomes a player in the global economy, what's extremely important for Georgia is to have a brand like Trump coming to Georgia and showing the world that like Western development Georgia is coming to the market as well," Michael Cohen, the Trump Organisation's executive vice president, told Reuters. (Realty Plus, May 8, 2012) ”Popular Dissatisfaction with Saakashvili Priorities
“ That push to bring investment and jobs to places far from Tbilisi, which is already replete with luxury hotels, sleek new public buildings and fountain-sprinkled plazas, saw Saakashvili host US tycoon Donald Trump last month in the Black Sea resort of Batumi. There they unveiled plans for a EUR 200 million 47-storey Trump Tower, a residential block also to be built by the Silk Road Group, which they hope will become a landmark in a subtropical holiday spot that the US billionaire dubbed the Monte Carlo of the region. “I think you have a lot of investment opportunities in Georgia,” Trump said during his visit. “It’s amazing what’s going on. It’s one of the really amazing places in the world right now.” [...] Saakashvili’s critics tens of thousands of whom rallied in Tbilisi on Sunday call these plans the vanity projects of a megalomaniac. They are baffled as to who would live in the enormous Trump Tower, they have no idea where Lazika’s 500,000 putative residents would come from; and they see political machinations behind the transfer of parliament from Tbilisi. They also complain that Georgia’s existing infrastructure needs urgent renewal, as evinced by the collapse of dilapidated houses and the death of five people during flash floods in Tbilisi this month. (Irish Times, May 29, 2012) ”Hillary Clinton Visited Batumi to Boast of Trump's Project
“ Hillary Clinton made sure to have a little fun on her latest official trip by taking some time out to taste the best wine that Georgia had to offer. The Secretary of State seemed to be in high spirits as she chatted with Georgian President Mikheil Saakashvili and surveyed a variety of wine at the Adjarian Wine House in Batumi, a beach town decidedly off the beaten path of high-level political conferences. [...] In Georgia, she has diplomatically pressed the government to hold free and fair parliamentary elections. Even the visit to Batumi, a resort town that is attracting five-star hotels and an investment from New York real estate mogul Donald Trump, has a foreign policy point. Aides said the visit would dramatize the difference between the booming Georgian resort and the isolated towns in South Ossetia and Abkhazia, two Georgian enclaves over which Russia tightened its control after a five-day war in 2008. (MailOnline, June 6, 2012) ”Georgia Under Saakashvili - No Labor Protections or Minimum Wages, Flat Taxes
“ One person who is confident about Georgia's future is Dimitri Gvindadze, the country's finance minister. He points out that the flare-up with Russia occurred during the same year that the global financial crisis caused financial institutions around the world to go bankrupt. "But there was no need to bail out any of our banks and investors did not run away," he says during a press conference for Israeli journalists. The Harvard-educated Gvindadze, 38, is typical of the Western-oriented young people who hold key positions in government and business in Georgia. The current president, Mikheil Saakashvili, now 44, was first elected when he was 36. The relative tenderness of their age is accompanied by an almost utopian ambition to create a super-capitalist free-market society. There are almost no labor laws, no trade unions and no minimum wage. Taxes are low and uniform - wage-earners pay 20 percent income tax regardless of how much they earn (compared to as much as 48% in Israel). The corporate rate is 15%, compared to 25% in Israel. "We believe that the main role for government is in building infrastructure," says Gvindadze. (Jerusalem Post, June 8, 2012) ”Shortly After Trump Deal, Russian Visa Requirements Relaxed
“ Donald Trump is one of the latest high-profile investors to back the rejuvenation of the city with plans for a new Trump residential tower. Batumi is the focus of Georgia's effort to attract 4 million visitors to the country this year, almost as many as the country's entire population. For now it is mostly visitors from the Caucasus region and Turkey, though Russian tourists are returning since Georgia scrapped their visa requirement last year. Gambling is legal, which provides another lure to potential tourists. (CNN, June 11, 2012) ”Saakashvili's successful challenger criticized the Batumi deal with Trump
“ There is arguably no American analogue to Bidzina Ivanishvili, the billionaire and now presidential hopeful whose Georgia Dream political coalition is vying against western favorite Mikheil Saakashvili's United National Movement in the Republic of Georgia's upcoming parliamentary elections. "The best way to fathom the influence and impact Bidzina Ivanishvili has in the former Soviet republic," wrote Julia Ioffe in Forbes, "would be to imagine that a businessman worth $8 trillion -- Ivanishvili's $6 billion net worth is half of Georgia's GDP -- had established a statewide system of philanthropic patronage in, say, West Virginia and the whole state was subservient to him." At the same time, Ivanishvili, who Ioffe reports was once rumored to have bankrolled everything from the country's police force to its intelligentsia -- and who was one of Saakashvili's most important allies until a falling out three years ago -- is an enigmatic figure. [...] He's calling this an achievement of the economy. Paved roads were no less during Shevardnadze. In both cases, during Shevardnadze's period and now, they were built through grants and other foreign assistance. So, in your mind, the idea of there being a foreign investment economy in Georgia is a fiction? Absolute fiction. They cannot name a single investor. They brought in [U.S. real estate mogul Donald] Trump. You can research this yourself. Trump did not put any investments. He was actually paid from us. You can double-check this with this Donald Trump example. The government was saying, promoting in the States as well as in Georgia, that Trump is going to invest in Georgia.Well, no investment came from Trump. Two months they have been circulating this on TV. Not a single cent has been invested by Trump. It's a complete lie. Quite the contrary: Trump wanted to sell his brand, and we don't know what actually happened. One thing is evident: when the government controls business totally, not a single investment goes to that country.
[According to a 2012 AFP report, Donald Trump signed a licensing agreement with the Silk Road Group, the developer of a $200 million Trump Tower in the Black Sea resort city of Batumi, Georgia. I was able to reach Michael Cohen, the Trump Organization's point-person for the project in Georgia. "Mr. Trump has developed a very strong relationship both professionally and personally with President Saakashvili, who he admires tremendously," he said. He described the modest progress of the project thus far: there is "a fully complete set of architectural drawings for the building," and a sales office with model units is under construction. Cohen says that the project has attracted interest from buyers in Turkey, Azerbaijan, and Russia, among other countries. Cohen would not elaborate on the nature of the relationship between Silk Road and the Trump Organization. When asked if Trump had invested any of his own money in the Batumi high rise, he responded that "The terms of the agreement are propriety and confidential." While Silk Road is by all accounts a private development corporation, it did receive a substantial loan from the Bank of Georgia for a hotel project in Tblisi.] (Atlantic Online, August 28, 2012) ”Saakashvili stepped down following electoral defeat
“ President Mikheil Saakashvili of Georgia conceded defeat in parliamentary elections on Tuesday and declared himself an opposition politician, an extraordinary event in a country whose other post-Soviet leaders have left office under pressure from chanting crowds and the threat of civil war. [...] A coalition of opposition groups, called Georgian Dream, won the vote on Monday by 55.1 percent to 40.1 percent, the Central Election Commission reported on Wednesday morning, with about 96 percent of precincts reporting.[...] Tbilisi, the capital, had become increasingly tense as the elections approached, and many feared that they would end in a confrontation between government forces and the throngs of voters who had coalesced around Mr. Saakashvili's challenger, the billionaire philanthropist Bidzina Ivanishvili. Both of Mr. Saakashvili's predecessors, Zviad K. Gamsakhurdia and Eduard A. Shevardnadze, left office in chaotic circumstances, hoping to avoid civil unrest. [...] Many of his pet projects were criticized during the campaign, which tapped into frustration over persistent poverty and unemployment, as well as weariness with a clique that had monopolized politics for eight years. In his remarks, Mr. Saakashvili dwelled on the changes that had taken place in society. [...] At his news conference on Tuesday, Mr. Ivanishvili said without hesitating that he planned to bring Georgia even closer to the United States and that he, like Mr. Saakashvili, hoped to steer the country toward NATO membership. However, he went on to inveigh against Mr. Saakashvili, deriding his trademark reforms, as well as recent projects like a plan to build a city, Lazika, on the Black Sea, and a joint construction venture with Donald J. Trump. (New York Times, October 3, 2012) ”
“ "Silk Road Group" had spread a statement today, saying "recently various media call "Trump Tower" among those governmental projects, which may be canceled by the new government". However, the company stresses, Batumi "Trump Tower" is not the state, but the private project, being implemented by "Silk Road Group" on the base of license agreement with Donald Trump. General plan and a draft for the "Trump Tower" project are already finished, the company said. Besides, so-called "model house" is installed on the territory, aiming to facilitate the sales process after development of the detailed design. (Sarke Daily News, October 12, 2012) ”Trump Business Partner Financed Saakashvili
“ The article is based on materials of "Transparency International" - "Georgia" ("TI Georgia") concerning to funding of political parties, according to which, "Georgian Dream" has received revenue of 4.6 million lari in 2012 (excluding August-September), while "National Movement" - 13.4 million. [...] Namely, "National Moveme"nt has received 117,000 lari from construction company "Modern House", per 60,000 lari - from Lado Gurgenidze (executive chairman of "Liberty Bank"), Temur Kokhadze (partner in subsidiary company of "Tegeta Motors"), Ekaterine Chkhaberidze (director general of "Goodwill"), Giorgi Ramishvili ("Silk Road Group"), Levan Pkhakadze ("Wissol Group"), Mikheil Svimonishvili ("Marneuli Food Plant"), Devi Ovashvili ("Interplast"), 55,000 lari (Sarke Economic Press Monitor, April 19, 2013) ”Georgian Business Partner Linked to Former Paramilitary Group?
“ The newspaper reports that Kazakh side files a suit against the former manager of "BTA Bank", who has stolen several millions of dollars from the bank and hides since that. Businessman with criminal past, known as "Zarala" (Giorgi Ramishvili), has assisted the manager in this situation, the article says. Ramishvili's name is linked to "Silk Road Group", which was founded in 1998. The group includes "SilkNet, Wissol Petroleum Georgia", "Radisson" (Tbilisi and Batumi), "BTA Bank", investment company "DS" (hotel complexes in Ajara and residential complex "Sakanela" in Tbilisi). As the article notes, Ramishvili is a former member of "Mkhedrioni" (paramilitary group in early 1990-is) and under the previous government, he was patronized by Nika Rurua (former minister of Culture and Monument Protection), who was also "Mkhedrioni" member in its time. (Sarke Economic Press Monitor, September 4, 2013) ”Silk Road Group Claims Projects Resumed Following Post-Election Suspension
“ Chairman of "Silk Road Group" supervisory board Giorgi Ramishvili declared that after 1-year time-out working on all projects is resumed. Ramishvili pointed that time-out was caused by changes in the country and
following study of the situation. Currently, negotiations on "Trump Tower" project are underway with American, European and Russian business groups, Ramishvili told "Sarke", refraining to disclose the details. He promised that ""Silk Road Group" will publicly announce every reached agreement with potential investors". To remind, construction of "Trump Tower" in Batumi was planned to launch in 2013. As Ramishvili said, initially planned investment of $250 million, presumably, will not change. (Sarke Daily News, November 8, 2013) ”Despite denials, project was suspended from 2012-2016
“ Trump's business ambitions have extended throughout the former Soviet Union and the Eastern bloc. [...] He spent three days in Georgia in 2011 to announce another project in the Black Sea resort town of Batumi. It has not been built, but a project official, Giorgi Rtskhiladze, told The Post that Trump was paid a fee for the use of his name when the agreement was signed. (Washington Post, June 17, 2016) ”Silk Road Group announces revival of Trump Tower Batumi
“ Days after Donald Trump's election victory, a news agency in the former Soviet republic of Georgia reported that a long-stalled plan for a Trump-branded tower in a seaside Georgian resort town was now back on track. [...] Trump swept into the Black Sea resort town of Batumi in 2012 and announced that a new luxury Trump Tower would soon rise from the empty field in which he stood with the country's then-president. Once scheduled to break ground in 2013, however, the project was halted by an economic downturn, a local land planning dispute and, some analysts said, the electoral defeat of then-Georgian President Mikheil Saakashvili, a personal friend of Trump's who had championed the deal. In recent months, long-standing roadblocks to the project's groundbreaking resolved without government assistance, said Giorgi Rtskhiladze, a U.S.-based partner working with the local developer, the Silk Road Group, which paid Trump a licensing fee to put his name on the building. Rtskhiladze said the developers informed the Trump Organization in September or October that the project could now proceed. After Trump was elected, he said he emailed a congratulatory note to Trump's adult children and to a top Trump Organization executive - and reiterated that developers are prepared to move forward. He said Trump executives have indicated the project is being "reevaluated," as they discuss how his company will be operated after Trump takes office. "We're ready," Rtskhiladze said. "We're waiting for them to give us the green light." (Washington Post, November 25, 2016) ”Trump allegedly cancels Batumi project
“ 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 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. (Bloomberg News, January 4, 2017) ”India
Indonesia
Israel
Tel Aviv - Elite Chocolate Factory
Mexico
Baja - Trump Ocean Resorts
Netherlands
Philippines
Qatar
Saudi Arabia
South Korea
Switzerland
St. Moritz - Condominium Development
St. Vincent and the Grenadines
Taiwan
Turkey
Uruguay
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
