Trump Lends His Name to Tower in Ex-Soviet Georgia
U.S. property mogul Donald Trump lent his name Sunday to a new luxury skyscraper project in ex-Soviet Georgia, which is emerging from a 2008 war with Russia and seeking Western tourists and funds.
Trump unveiled the planned building in the Black Sea resort of Batumi at a ceremony attended by President Mikheil Saakashvili, who hailed Trump's presence as "a sign that the country is on the path of an irreversible success."
"The whole world is speaking about the transformation that is underway in Georgia," Trump replied.
The Trump Tower Batumi will be neither owned nor developed by the tycoon. Georgia's Silk Road Group will use Trump's name and brand under license in a deal whose financial details were not disclosed.
Designed by the New York-based John Fotiadis Architects, the project involves a 47-storey residential building and accompanying marina "with the highest level of Trump luxury standards," Silk Road Group said.
The firm hopes to complete the complex by early 2014.