RAKEEN, RAK’s real estate development company, is investing heavily in Georgia, both in Tbilisi (Tbilisi Heights, Uptown Tbilisi, Mtatsminda park –one of the hallmarks of Tbilisi) and in Poti, on the Black Sea. The family of late tycoon Badri Patarkatsishvili, a founder of Imedi media holding, said the sale of the TV and radio station was illegal. RAK Georgia Holding has purchased 90% of Imedi, for an undisclosed price. The Patarkatsishvili family said that the deal “shows President Saakashvili is prepared to put Georgia’s media freedom up for sale….”
MEDIA
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“...During Saakashvili visit in Poti, he opened a closed factory; and he congratulated the local residents on the resolution of water-supply problem...as soon as the investors purchased the factory, they fired everybody…later, I found out that C hepatitis epidemic had broken out in the city, resulting from dirty water…”
FREEDOM
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“Turning Georgia into Dubai and Singapore is the project of my life... ...final results of the project, real revival and 100-storey skyscrapers here...�
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The UAE’s Ras Al Khaimah (RAK) emirate has committed to develop a free economic zone on 300 hectares of land in Poti and in addition to built a new port terminal on a 100 hectare site. rakiageorgia-freezone.com
FOR SALE
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Real-estate development in Georgia is strongly linked to political power. The relationship between president Saakasvili and Rakia, a sovereign fund from the United Arab Emirates is alleged to be behind Rakia 90% stake in Imedi, the opposition broadcaster.
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