Since 2006, the Shovi resort has belonged to a Kazakh group, which in 2016 asked Simetria to help develop the resort. Implementation of a large-scale project turned out to be an interesting challenge for the company.

The Shovi Mountain Resort was a project of regional importance, which after its implementation led to the formation of a world-class and standard tourist destination, the development of tourism in the region, and a significant increase in the economic indicators of the country.

According to the project, it was planned to open a 4-season resort of global scale in Shovi. Its development was based on a unified development concept and architectural plan. Capitol Real Estate was considered one of the investors of the resort.

On August 3, 2023, after the landslide and the tragedy that occurred in Shovi, all the works related to the project were stopped.

Implementation of the project
Simetria started developing Shovi Mountain Resort in 2017. Since then, approximately 1.5 million GEL has been spent on the preparation of the project, and all the work necessary for its large-scale implementation has been completed:

• In cooperation with BDO, a legal audit of the real estates owned by the main owners of Shovi Resort was conducted;

• In cooperation with scientific-research company "Gama", ecological research of the resort was carried out;

• In cooperation with the Austrian consortium Freiland, the development concept and general plan of Shovi resort was developed;

• A detailed business plan based on the concept and general plan of the resort was created in cooperation with the consulting company EY, a member of the Big Four;

• In cooperation with EY, an agreement on a unified development plan was made with the main owners of the Shovi resort, and in accordance with this agreement, a plan was prepared on the contribution of the parties to the development and management of the resort;

• The leading laboratories of Germany studied in detail the mineral waters in the resort area. According to the obtained results, the concept of using them for balneotherapy and spa purposes was prepared - Dr. Kurt von Storch, STORCH Water Consulting International, Wiesbaden (Germany); Dr. Janka Zalesakova, Balneotherma s.r.o., Bratislava (Slovakia);

• In cooperation with Adactive Consulting, a study was conducted to assess the role of Shovi resort development in the development of Racha region;
• To prepare the architectural concept and project of resort development, an international research and price survey was conducted. An Austrian-American consortium was selected;

• There was active cooperation and intensive communication with municipal state organizations and officials, local owners and interest groups to make the necessary decisions for the development of Shovi resort (participation in the process of preparing the general plan developed by the state, working on the issues of creating security systems and communal infrastructure necessary for the resort, etc.).

Simultaneously with the creation of the master plan, Simetria effectively managed Shovi's property and legal issues together with foreign consultants. The general plan for 2019-2022 was agreed with the state. According to this agreement, Capitol Real Estate would make relevant investments, and the state would perform central infrastructure works. At the same time, negotiations were ongoing with the owners of the neighboring land of the resort on the further development of the resort.

In August 2023, after the landslide, according to the conclusion published by the National Environment Agency, development of the Shovi area is impossible. Negotiations are currently underway with the state regarding the relocation, which will allow Capitol Real Estate to use the resources for the development of another resort.