Press Releases

KALA CAPITAL PRESENTATION WAS HELD IN GEORGIA

On March 31st representatives of Kala Capital holding gave a press-conference in Tbilsi, Georgia. Kakha Kaladze - the founder of the company, Zurab Nogaideli - chairman, Aleksi Aleksishvili -board member, and Zviad Kharebava - CEO presented to mass media the future plans of the company.

Kala Capital's holdings are based in the fields of banking, real estate, and energy. In September, Kala Capital will open Progress Bank to serve corporate, private and retail banking clients.

The energy division will focus on construction of hydropower plants, oil production and developing alternative energy sources.

Kala Capital holding recently purchased 78 hectares of land in Tbilisi for the development of a US$1.5 billion master planned community called Arsenal City. The 'city within a city' will include high-end residential, retail and commercial space, a five-star hotel and convention facilities. The largest real estate development project underway in Georgia, Arsenal City is expected to raise the county's GDP by 1% and create 25,000 jobs.

Press-conference was attended by 130 journalists from Georgia and abroad.

Later in the evening Kala Capital held the presentation for the government officials and the business representatives. President of Georgia, Michael Saakashvili, greeted the guests and wished success to Zurab Nogaideli and Kakha Kaladze's team in their business activities. "These are the people with huge experience; I want to wish Kakha the great success. The most import thing is that Georgians are returning home particularly participating in country's development" - admitted the President.