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title: "BGEO Group’s real estate subsidiary acquires land plot in Telavi for hotel development"
description: "BGEO Group PLC (the Group or BGEO), announces that the Groups real estate subsidiary, m2 Real Estate (m2 or the"
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03 Apr 2018

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BGEO Group PLC (the “**Group**” or “**BGEO**”), announces that the Group’s real estate subsidiary, m2 Real Estate (“**m2**” or the “**Company**”), has acquired an 8,512 square metre land plot in Telavi, Kakheti for a total cash consideration of US$1.5 million. The Company intends to develop a hotel on the acquired land plot with approximately 130 rooms (the “**Hotel**”) over the next two years. Telavi is the largest city in eastern Georgia and a major tourist destination, known as a major wine region in Georgia. The Hotel construction works will be carried out by the Company’s construction arm.

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