Georgian Economy Minister: Emaar’s Eagle Hills project to become flagship in Georgia’s development, tourism industry

Mariam Kvrivishvili, the Minister of Economy and Sustainable Development of Georgia, on Tuesday announced that the Eagle Hills Georgia project by Emaar Group would serve as a flagship in Georgia’s development and tourism sectors, marking one of the largest foreign investments in the country’s history.

In her remarks, Kvrivishvili highlighted that this milestone follows a historic visit from the President and Government delegation of the United Arab Emirates (UAE) a month earlier, during which strategic agreements were reached regarding Emaar’s entry into Georgia.

“Today, we are hosting our friend and partner, Mr. Mohamed Alabbar, whose personal involvement and leadership made it possible to achieve tangible results with rapid steps from decision-making. Today, in the centre of our capital, on the first floor of a historic building, we are opening the presentation space for the Emaar Group's project, Eagle Hills Georgia, which will become a flagship in the Georgian development and tourism industry”, Kvrivishvili said.

The Minister noted that the Emaar Group was set to invest $6.5 billion in Georgia through two major projects.

“The Emaar Group will implement a USD 6.5 billion investment in Georgia across two projects - in Tbilisi's Krtsanisi district and near Batumi, on the Gonio territory. Within the framework of the Eagle Hills Georgia project, modern, diverse infrastructure will be developed in Tbilisi and near Batumi. The same project will also include the construction of a yacht marina in Batumi, which will take the seaside city to a completely new, yet natural stage”, she noted.

Kvrivishvili further added that the project would generate thousands of new jobs and create two new high-end destinations that integrate living, leisure, and business opportunities.

“The project will be a major driver of employment, creating thousands of jobs. It will create two new destinations in Tbilisi and near Batumi, in Gonio, which will form a very important ecosystem - uniting residential and commercial spaces, accommodation facilities, shopping streets, and many other significant additions to our country's tourism product”, the Minister said.

She expressed gratitude to Georgian Prime Minister Irakli Kobakhidze for his leadership in facilitating the project and to Mohamed Ali Alabbar for his confidence in Georgia’s potential.

“Georgia has gone through a fairly difficult path, with complex challenges, including the war in the region following the COVID pandemic, but our country's economy has shown very significant strength and resilience, as well as vitality. The correct economic policy has ensured that Georgia is a leader in the region, as well as in European countries, in terms of economic growth. This is our main value, the formula for success that Georgia has created and which all our friends see, including Mr. Mohamed Alabbar, with whom we have years of partnership and friendship. It is precisely this trust that has led to our receiving an unprecedented USD 6.5 billion investment in Georgia”, she concluded.