Since 2006, the stunning Shovi Resort has been owned by a Kazakh investment group. In 2016, they turned to Simetria to help bring a new vision to life. The development of this large-scale project represented an exciting and ambitious challenge.

The Shovi Mountain Resort was envisioned as a project of regional importance with far-reaching potential. Upon completion, it aimed to establish Shovi as a world-class, internationally recognized tourist destination. The resort was designed to become a catalyst for tourism development in the region and a significant contributor to the country's economic growth.

According to the development plan, Shovi was set to become a four-season resort of international scale. The resort’s design was guided by a unified development concept and a cohesive architectural vision. Among the key investors considered for the project was Capitol Real Estate. On August 3, 2023, a devastating landslide struck the Shovi region, halting all ongoing development.

Project Implementation
The development of the Shovi Mountain Resort officially began in 2017 under the leadership of Simetria. Since then, approximately 1.5 million GEL has been invested in the project’s preparation phase and included all the essential works required to bring such a large-scale vision to life:

• In partnership with BDO, a comprehensive legal audit was conducted on the real estate assets owned by the resort’s primary stakeholders;
• Working with the scientific research company Gama, an ecological assessment of the resort area was carried out;
•  In collaboration with the Austrian consortium Freiland, a full development concept and master plan for Shovi resort were created;
• Together with EY (a member of the Big Four), a detailed business plan was developed, grounded in the resort’s concept and master plan;
• Also in partnership with EY, a unified development agreement was reached with the resort’s key property owners. This agreement defined a clear framework outlining each party’s contributions to the resort’s development and management process
• Germany’s leading laboratories conducted a comprehensive analysis of the region’s mineral waters. Based on the results, a concept was developed for their use in balneotherapy and spa treatments by renowned specialists - Dr. Kurt von Storch, STORCH Water Consulting International, Wiesbaden (Germany); Dr. Janka Zalesakova, Balneotherma s.r.o., Bratislava (Slovakia);
• In collaboration with Adactive Consulting, a study was conducted to evaluate the strategic role of Shovi Resort in the broader development of the Racha Region;
• To prepare the resort’s architectural vision and planning framework, an international feasibility study and pricing assessment were carried out. As a result, an Austrian-American consortium was selected for the design and execution of the project;
• Intensive cooperation was established with local and national government bodies, municipal agencies, landowners, and various stakeholders. This collaborative effort supported key decisions related to the development of Shovi Resort (including active participation in the preparation of the government-led master plan, as well as collaboration on the design of essential safety systems and the development of core utility infrastructure necessary for the resort).

Alongside its international consultants, Simetria efficiently managed the legal and property-related aspects of the Shovi project, in parallel with the development of the resort’s master plan. Between 2019 and 2022, the master plan was officially approved in coordination with the Georgian government. Under this agreement, Capitol Real Estate committed to making the necessary private investments, while the state pledged to carry out key infrastructure works. At the same time, negotiations were initiated with neighboring landowners to establish a unified management approach for the resort’s future development.

In August 2023, following the devastating landslide in Shovi, a report issued by the National Environmental Agency concluded that further development of the area was no longer feasible. Currently, negotiations are underway with the government regarding a land relocation agreement. This would allow Capitol Real Estate to redirect its investment and resources toward the development of an alternative resort location.