Tbilisi: The tender for the construction of a new stadium in Tbilisi, valued at 876 million lari (325 million USD), has been terminated. The decision was made by the tender commission of the Municipal Development Fund of Georgia.

According to Azeri-Press News Agency, the commission reviewed the proposals submitted for the tender. The Azerbaijani-Georgian joint venture “Makro-Inshaatchi” and the Turkish company YDA INSAAT were excluded from the tender due to incomplete applications. As a result, the only participant left in the tender was the Georgian company “Anagi,” whose proposal significantly exceeded the value of the proposals submitted by the other two participants. Consequently, the Municipal Development Fund has not determined a winning company at this stage.

The commission deemed it necessary to revisit the customer’s requirements and tender documents, leading to the cancellation of the tender procedure. The planned new stadium will meet UEFA’s IV category standards for hosting football and rugby matches. It is set to be Georgia’s largest stadium, covering an area of 270,000 square meters near Tbilisi International Airport, with a capacity of 70,000 spectators. The winning company will be allocated 4 years and 3 months to construct the multifunctional sports arena. Should a winner be announced this year, construction is expected to conclude between 2029 and 2030.

Currently, the largest stadium in Georgia is the Boris Paichadze Dinamo Arena in Tbilisi, which accommodates around 55,000 spectators.