Govt' Plans to Auction So-called Rike Jugs

"The government of Georgia plans to sell the well-known building, the so-called Rike Jugs, located in Old Tbilisi, near the Bridge of Peace," Natia Turnava, Minister of Economy and Sustainable Development, said after the sitting of Cabinet of Ministers on Thursday.

The initial price of the Rike Jugs is 95 million GEL. The Ministry of Economy included the building on the list of to-be privatized objects within the framework of the '100 Investment Offers to Business' project.

“We are going auction so-called 'Rike jugs' within the project '100 Investment Offers to Business'. A solid amount of money was spent on the construction of this project. Unfortunately, to date, the project failed to find a function, although it is in a very interesting location and is visited by many,“ Turnava said.

The Minister added that emphasis will be placed on the commercial and appropriate use of the building.

“Through this transparent auction, we will be able to test how relevant this price is to meet current market requirements. Our task is to find the right use of the Rike Jugs through an open public auction," she noted. 

The Rike Jugs were installed over 15 thousand square meters of space in 2012. The facility was expected to serve as an amphitheater in Europe Square, however, it was never completed. The construction works cost 75 million GEL. The interior of the building is fully finished and it is popular among tourists and visitors of the Old Tbilisi district due to its original and distinctive design. 

By Ana Dumbadze