Nodar Giorgadze, President of Gino Holding, has for years been responsible for the development of one of the most important recreational centres in Tbilisi, the Tbilisi Sea Territory. After creating one of the best water parks in Europe, his goal is to implement the unique Tbilisi Boulevard seaside urban project, which costs 250 million euros.
Published by Anina Tepnadze
Gino Holding has been implementing a number of successful projects for many years. What is the history of the company? What path did you take before you created it?
Gino Holding's activities in Georgia started in 2012, when I created the first Gino Waterpark in Georgia. This project was a new challenge and experience for me. My past life was not related to business activities, I spent half of my life in public service. I am a physicist, a lawyer, a doctor of economic sciences, I have served at different times in the Ministry of Interior and in public positions, I was the acting first minister of independent Georgia, a member of the Georgian Parliament and the chief military advisor to the President. I was also Georgia's Permanent Representative to the European structures of the United Nations. I am proud to have been the first to fly Georgia's flag in NATO. You were also a delegate of the Organization of World War Veterans in the countries of Central and Eastern Europe. Since 2016, I have been the Honorary Consul of Georgia in the Slovak Republic. Therefore, when I decided to go into business, everyone was amazed, but at the age of 50, I realized that it was now or now or never, it was time for me to transfer my life experience and knowledge into my own business.
I didn't choose the Tbilisi Sea by chance. Compared to the city center, it is a less busy zone, which is a factor in maintaining a pleasant and clean environment - there is unique nature, views, forest park and especially the sea. It should be noted that already in the Soviet Union, studies were conducted where the best climatic conditions were in the field of rehabilitation and treatment of cardiovascular diseases, you can imagine that it was Baikal, Boy's and the territory of the Tbilisi Sea. The level of the Tbilisi Sea contributes to the formation of a humid climate, which is useful for patients with respiratory and cardiovascular diseases. Therefore, in 1988-1989 it was decided to build an international rehabilitation and treatment centre here. The project failed, but the microclimate went nowhere.
My idea created a water park in this place, created the Tbilisi Sea as a truly unexplored climatic centre. Today, Gino Waterpark is ranked among the top 10 waterparks in Europe - it spans 16 hectares and combines 10 indoor and outdoor pools, a diverse whirlpool, up to 500 different slides and a variety of attractions.
Aquapark Gino is not positioned as a seasonal place of entertainment, but as a centre of leisure and recreation. What are the main elements that led to the success of the project?
Gino Aquapark is the best place for families to have fun and relax in all four seasons. There are areas for both children and adults, the Gino Spa and Wellness Center combines 9 different types of sauna and offers visitors a wide range of massage treatments. In 2023, the 5-star Gino Seaside hotel next to the water park , which brings together 218 investment apartments, began operating.
In addition to comfortable rooms, the hotel has a restaurant, a bar, conference facilities and a swimming pool.
As a result of years of work in this area, we have adopted a master plan for development that is strictly regulated and provides only low intensity development that eliminates unplanned and inconsistent development from the outset and contributes to the creation of an environmentally clean and orderly urban area. Gino Holding has already invested €45 million in the construction and development of the water park and this figure is increasing every year. The Cino Siside hotel in Tbilisi has already invested up to 20 million euros.
We plan projects for the next day, build tomorrow and live today. Our projects not only meet the demands of modernity, but also set the standards for the future based on the best experience in the world. We create projects for people who will get modern living conditions from everyone else.
It seems that your new project Tbilisi Boulevard is part of of the big picture of the development of the Tbilisi Sea area. What can you tell us about this project?
Residents of different neighbourhoods in Tbilisi today face many urban challenges: polluted air, constant traffic jams, suddenly changed views that are radically different from the view at the time of purchase, lack of sports and children's entertainment playgrounds, lack of green space and appropriate infrastructure. With all this in mind, we felt it necessary to create modern, ecologically harmonious living spaces like "Tbilisi Boulevard." It will be the only mixed-use residential complex in Tbilisi that offers customers proximity to the sea. Panoramic views of the Tbilisi Sea have not only aesthetic value, but also an important element in creating a quality living environment. Therefore, long-term and strategic urban planning should include the preservation of these views and a pattern of urban development that is in balance with the natural environment. Coexistence, sustainable infrastructure and the well-being of residents.
As part of the project, a unique shoreline will be landscaped to accommodate a boardwalk. My dream was to have a similar boulevard in Tbilisi. It is a coastline of approximately 8 000 square metres where people can walk, relax, have fun and spend time with their loved ones. Based on all this, I can say with certainty that there is no such project not only in Tbilisi, but also in the region.
What will be the daily routine and lifestyle of Tbilisi Boulevard residents?
My team members and I believe that we should not divide life into bad and good parts. That's why we create places where active, healthy, fun and cognitive activities naturally blend into a person's everyday life. I believe and want to convince others that it is possible to combine the enjoyable and the useful. Moreover, such a presence on "Tbilisi Boulevard" will become a part of everyday life and will radically change the lifestyle of modern man.
We do all this so that for those who live here, peace is an integral part of everyday life - so that we can bring a positive attitude from here and spread it in the city or in different social circles. This is important, Thor, as a wise man said, money is nothing, money is paper, if not in action. Money in action is no longer just paper.
The project plans a combination of residential, commercial, office and hotel infrastructure. How do you plan to integrate these components?
It should be noted that Tbilisi Boulevard, with a total investment of 250 million, is the largest project in Gino Holding's portfolio of current projects. It is practically a resort in the city, changing the phenomenon of life at sea, from a short holiday experience to everyday comfort. It will be a 30-hectare eco-city in the city, all components of which take into account modern green approaches. For example, most of the buildings will be equipped with solar electric panels, which will significantly reduce the electricity bill, 3,000 trees of a unique variety will be planted, an underground car park will be set up, only electric vehicles will be allowed to drive around the area, etc.
The project will unite residential, commercial, office and hotel infrastructure in one space. There will be a shopping mall, a 5-star Gino Seaside Hotel Tbilisi, two independent hotels/apart-hotels, a hotel boulevard, a business center with work spaces and offices, clinics, restaurants, cafes, a school, a garden, a separate building for 1000 cars for parking, a rehabilitation and wellness center, etc., of course, we will provide spaces for active recreation: squares, courts, cycle paths and gyms. Similar infrastructure and services are aimed at peace of mind, a sense of security and exclusivity, increasing property values and improving the quality of life.
Who are your partners in this large-scale project?
The project on Tbilisi Boulevard is co-financed by the Central Bank of Georgia, which finances one part of the project, the residential zone, and the other part is financed by the Slovak State Bank Exim Bank together with a Slovak investor. In terms of other partners, the infrastructure section is actively negotiating with leading global brands as well as schools and nurseries with high reputations. According to the development plan, all these elements in unity will create a space where people's everyday life will be pleasant, comfortable and productive. When I thought about the development of this neighbourhood, the starting point has always been the person who has satisfied their needs and improved their life. I will be happy if it works out.
Slovakia has a special place in your life and you are a citizen of this country in addition to Georgia. What would you say about Slovakia and the business institutions there?
My life and business activities in Slovakia started in 2003. I am very grateful to Slovakia because it is a country where I have been able to implement my business ideas, create important projects and bring benefits to society. My business activities in Slovakia include tourism, energy and agriculture. The holding has implemented several important projects, including Gino Paradise Bešeňová - Thermal Water Park, which is one of the most famous holiday complexes in Central and Eastern Europe and is visited by more than 600,000 people annually. In addition to business, I am actively involved in charitable activities. To date, I have invested EUR 130 million in Slovakia and EUR 120 million in Georgia. Over the next 5 years, more than 300 million euros will be invested in projects planned and planned in both countries.
What criteria do you use when selecting projects?
Gino Holding is implementing various projects in Georgia and Slovakia: in addition to the water park we have already mentioned, we have a hotel and wellness centre in the historic town of Mtskheta Gino Wellness Mtskheta, a boutique hotel and wellness centre in Akhaltsik, on the territory of the XI century fortress of Rabati Hotel Gino Wellness Rabath, Hotel Gino Sunrise Batumi in Adjari, Batumi, a five-star multifunctional hotel complex in the centre of Tbilisi Gino Grand Hotel Melikishvili, and so on and so forth. I will separate myself from the projects in Slovakia
Gino Park Palace Hotel, a boutique hotel and restaurant in Orlova, housed in a 16th-century palace that has twice won the European Best Historic Wedding Palace award. The hotel features a café, lobby bar, atrium, restaurant, spa and fitness center, Baroque chapel, wedding pavilion and 6.5 acres of historic English woodland. We also have a solar power plant, which we organized in 2010-2011.
This is an incomplete list of the projects that my team and I are implementing in Georgia and Slovakia, with a total investment to date of €250 million. This number increases every year as projects develop and new projects are added. Traditionally, an investor always tries to make as much profit as possible with as little cost as possible. I always try to bring the profits back into the business and reinvest them. I look at all projects like this: how much it will benefit the people and the country. That's why they call me an emotional investor.
Main areas of investment Gino Holdings are tourism, entertainment and renewable energy. What innovations are you planning in these areas?
Among the current projects, a hotel with an investment value of 22 million in Tbilisi, on Melikishvili Street, is very important. For many reasons (location, historical building) it was one of the challenging projects. I am glad that we have already advanced to the final stage and will finish this summer. Gino Grande will be a 5-star hotel with a wellness-spa center, fitness center, bar on 0 floor and all the necessary services including underground parking for 79 cars. We have negotiated the management of the hotel with several international brands.
We are planning another project in Bakuriani - it will be a 5-star boutique hotel with geothermal pools as its main advantage. The only place in Bakuriani is where the geothermal water rises and our hotel is built right there. I believe that unloading in the geothermal water pool after skiing will be a very pleasant experience for vacationers.
We continue to develop the water park - the plan is to cover the largest curling pool, which will increase the indoor use area by 3,000 m² during the winter season. This will allow us to host 2,500 visitors at the same time during the winter season and increase the number of visitors to 5,000 at the same time in the summer.
After Slovakia, we are also considering investing in the Georgian energy sector and building a 50 MW solar power plant in Gardabani. The total investment volume is EUR 28 million and EUR 3.5 million has already been invested. Gino Holding's investment activities in the energy sector will increase further. The Black Sea submarine cable project, the implementation of which will increase Georgia's huge energy potential, is very important in this respect.
