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DMG Group Announces the Urban Renewal of Laguna Vere Alongside the Former Silk and Tobacco Factory Site

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DMG Group officially announces the acquisition of Laguna Vere, along with the sites of the former Silk and Tobacco factories.

The project aims to restore these long-abandoned industrial areas and integrate them into Tbilisi's evolving urban landscape.

The architectural concept for the development will be created by the internationally acclaimed Spanish studio Ricardo Bofill Taller de Arquitectura. In addition to residential buildings, the master plan includes:

  • The restoration of Laguna Vere, returning the historic landmark to the city while preserving its original function;
  • The rehabilitation of one hectare of recreational green space, enriched with new landscaping and vegetation;
  • The adaptive redevelopment of the former Silk and Tobacco factories, giving a new purpose to these historic industrial areas.

The total investment in the project is expected to reach up to GEL 1 billion. During both the construction phase and subsequent operations, DMG Group plans to create employment opportunities for up to 1,000 local professionals.

Recognizing the strong public interest in this important location, DMG Group is committed to maintaining a transparent dialogue with the public and will share further project details as they become available.

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Bussines
image Punhan Narimanov holds the position of Chairman of the Board of Directors and Chief Executive Officer of PASHA Bank Georgia

11.08.2026.10:00

As of August 3, 2026, Punhan Narimanov holds the position of Chairman of the Board of Directors and Chief Executive Officer of PASHA Bank Georgia.

Under his leadership, the bank will continue to actively support businesses in Georgia, strengthen strategic partnerships, and execute its long-term objectives.
Punhan Narimanov began his banking career in 2007 at Kapital Bank OJSC, where he held a number of senior leadership positions in treasury and cash management.
From 2021 to 2022, as Chief Executive Officer of Komtec Ltd. LLC ("MilliÖn"), he led the company's strategic development.

Since April 2022, he served as Deputy CEO of PashaPay LLC, overseeing operations, product development, finance, and other key business functions. He was subsequently appointed Chief Executive Officer, leading the company's overall strategy and performance.

Punhan Narimanov earned a Bachelor's degree in Economics from Moscow University Touro, followed by a Master's degree in Finance from Azerbaijan State Economic University. He later earned an Executive MBA from IE Business School.

About PASHA Bank

PASHA Bank has been operating in Georgia for 13 years, offering businesses a full range of corporate banking services. The bank is a member of PASHA Holding, one of the largest regional investment groups based in Azerbaijan. PASHA Bank is present in three countries: Azerbaijan, Georgia, and Turkey. It serves as a strong and reliable financial partner for businesses operating across the region.

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