The historic building of the restaurant “Budapest” built in 1958 has been an integral part of Vake Park, the main recreation area of Tbilisi for decades and one of the familiar places for the residents of Tbilisi.

Against the background of the rehabilitation of Vake Park and the historic cascade of the park by the Tbilisi Municipality, the investor is ready to restore the authentic historic building of the restaurant “Budapest” instead of the construction of a hotel.

The company is ready to fulfill the initial condition proposed by the City Hall and to restore the building to its historic look, according to the authentic façade and height.

Despite the positive court decision and the legal right to build, the company is ready to agree to a compromise option and to refuse to implement the hotel project in the vicinity of Vake park.

In addition to guaranteeing the preservation of the existing plants during the restoration work, the company also undertakes additional landscaping of the area. The investor publicly confirms that the improvement of the existing area will be completed in the shortest time and its patronage will continue under the agreed terms. In case of restoration of the restaurant “Budapest” in this form, the project will come in full compliance with the historic look of Vake Park, as well as the legal rights of the company and the investor will not be violated.