UAE inks USD 6 billion investment deal to establish development projects in Georgia – the Middle East Economy publishes an article with such title.

"UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today welcomed His Excellency Irakli Kobakhidze, Prime Minister of Georgia, who is on a working visit to the UAE. During their meeting at Qasr Al Shati, His Highness extended a warm welcome to the Georgian Prime Minister, wishing the country and its people continued progress and prosperity.

During the meeting, Sheikh Mohamed and Kobakhidze witnessed the signing of a memorandum of understanding on investment to establish development projects in Georgia. “The largest investment in the history of Georgia – the development company Emaar Properties/Eagle Hills will invest $6 billion in Georgia," said the Georgian government in a statement.

Developments to take place in Tbilisi, Batumi - His Excellency Mohamed Alabbar, chairman of the board of directors of Eagle Hills Abu Dhabi, His Excellency Levan Davitashvili, First Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia, and His Excellency Tornike Rijvadze, chairman of the Government of the Autonomous Republic of Adjara, signed the deal in the presence of several officials from both countries.

“Today we signed a memorandum that envisages an unprecedented investment in our country, this is an investment of $6 billion which will be implemented in Georgia by a company with exceptional experience in the investment sector – the famous EMAAR Group. A multifunctional development project will be implemented, multifunctional infrastructure will be developed, on the one hand in Tbilisi, on the other hand in Batumi, Gonio. All this will significantly contribute to the development of our country’s economy, further accelerate the pace of economic growth, create new jobs, and all this will further attract other investors to our country, said the Prime Minister.

Developments to drive major influx of tourists - Eagle Hills revealed that this strategic partnership marks a significant milestone in the region’s development with the creation of two ambitious developments in Tbilisi and Batumi, reshaping these cities into vibrant destinations of sustainable living, world-class facilities, and economic vitality.

“The development will generate thousands of jobs, drive GDP growth, strengthen the real estate sector, and enhance tourism, attracting a significant influx of tourists annually. By integrating extensive green spaces and sustainable practices, Eagle Hills is crafting vibrant communities that celebrate Georgia’s natural charm and cultural heritage,” the company said.

Krtsanisi Park in Tbilisi - Krtsanisi Park in Tbilisi is a distinctive riverside development that seamlessly blends urban sophistication with the serenity of nature. Spanning 590 hectares, with 170 hectares dedicated to parks and greenery, Krtsanisi Park is a mixed-use concept that embraces sustainability through elegant residences, retail spaces and a state-of-the-art spa and wellness center, offering a thriving community where nature and modern living coexist harmoniously.

Gonio Marina in Batumi - Meanwhile, Gonio Marina in Batumi is nestled along the stunning coastal shores and pristine beaches of the Black Sea and features a remarkable waterfront development centered around a world-class marina district. Gonio Marina, a stunning 260-hectare development, will offer branded residences, luxurious hotels, retail parks, and expansive open park spaces that emphasize green living. Combining panoramic views, a dynamic marina lifestyle and the eco-conscious innovative approach will position Batumi as a leading global destination while enhancing the natural beauty of the coastline".