The Municipal Development Fund has announced a tender for the development of a reconstruction project for the "Magnolia" residential complex in Batumi. The cost of work for preparing project documentation is 2.5 million lari, and the selected company will be responsible for determining the future format of the object's restoration. The reconstruction covers an area of more than 15 thousand square meters, but the specific list of works will be determined after the completion of the design phase.

After the project preparation, the authorities plan to announce a separate tender for construction work. The initiative is related to the Adjara government's decision of May 31, according to which the complex's reconstruction should be launched. The fund notes that the building is located in the central tourist zone of Batumi, where its current state negatively affects both the urban environment and the attractiveness of the area.

The "Magnolia" complex has remained an unfinished long-term construction project for over ten years. Its construction was started by Centre Point Adjara, which completed the framework in 2011, but the project was not brought to completion. Later, the obligations were transferred to Dexus, but the object was never completed and gradually fell into disrepair. Now, the authorities hope that the new reconstruction will allow the building to be integrated into the modern urban landscape of Batumi.