Georgia is set to witness the largest investment in its history. Emaar Properties, in collaboration with Eagle Hills, has committed to an unprecedented $6 billion investment aimed at transforming key regions of the country. This historic agreement was formalized in Abu Dhabi during the visit of the Georgian Prime Minister, Irakli Kobakhidze.
The memorandum of cooperation was signed at the residence of the President of the United Arab Emirates. The ceremony was graced by the presence of Georgian Prime Minister Irakli Kobakhidze and UAE President Sheikh Mohammed bin Zayed Al Nahyan. Representing the Georgian side were First Vice Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili, as well as Chairman of the Government of the Autonomous Republic of Adjara, Tornike Rizhvadze. Mohamed Ali Rashed Alabbar, the Founder and Managing Director of Emaar Properties, represented the company.
The agreement sets the stage for the development of two major projects in Georgia, with investment directed toward Tbilisi and Gonio. Months of preparatory work by the Ministry of Economy and Sustainable Development and the Government of Adjara have led to this pivotal moment. Preliminary studies and assessments for these large-scale projects have already been completed.
Prime Minister Kobakhidze expressed the significance of this investment for the country. He stated, “Today we have signed a memorandum that envisages the implementation of an unprecedented investment in our country… A multifunctional development project will be implemented, with infrastructure development in Tbilisi and Batumi, Gonio. This will significantly contribute to our country’s economic growth, create new jobs, and attract further investments.”
The investment marks a qualitative leap in Georgia’s development sector, promising to create job opportunities, stimulate economic growth, and foster a favorable environment for future investors.
Strengthening Georgia-UAE Relations
The collaboration underscores the strengthening ties between Georgia and the UAE. Prime Minister Kobakhidze extended his gratitude to the UAE government and Emaar Group, highlighting the importance of the agreement for Georgia’s economic transformation. He stated, “Special thanks to our partners, the UAE government, and the EMAAR Group. This agreement will have a monumental impact on our country’s future.”
This $6 billion investment by Emaar Properties is not only a testament to Georgia’s growing appeal as a destination for international investors but also a transformative step forward for its economy. With projects planned in Tbilisi and Gonio, this collaboration signals a new era of development, innovation, and prosperity for the nation.
