Investments prove to be the only tool in the hands of Georgian developers to overcome the crisis in the construction field. In order to attract GEL 0,5 bn investments, the Georgian Developers Association needs the government's permission only. Irakli Rostomashvili, the Head of the Association, told Report.ge., the European investors have already been introduced to the new project, with them being ready to invest in Georgia. After the government's approval, the coronavirus-crippled field will be provided with the opportunity to revive.
Research by The Business Association of Georgia (BAG) also showed that Georgia's construction sector is now facing really tough challenges. Job cuts are reportedly expected in the sector, with this necessity presumably been surfaced after reduced demand on the real estate market.
It is noteworthy that in the fourth quarter of 2019, positive employment-related prospects were looming precisely for the construction sector.