Emaar Group Founder highlights Georgia’s 9% economic growth as lesson for European Union

Mohamed Ali Rashed Alabbar, Founder and Managing Director of Emaar Group, on Wednesday said that Georgia’s 9 percent economic growth rate was a powerful achievement, and the European Union should learn from Georgia’s success.

In his address during a panel discussion at the ongoing Tbilisi Silk Road Forum, Alabbar compared Georgia’s progress to the early development stages of the United Arab Emirates, noting that Georgia, as a young state, required continued investment in infrastructure such as roads, schools, hotels, and residential complexes to sustain momentum.

“Let’s take a step back and look at what was happening in my country about 50 years ago. Compared to that, modern Georgia is a young state. We need roads, schools, hotels, so I view this project through that lens at the end of the day. Everything is connected to the positive indicators, economic growth parameters, and so on, as we’ve already mentioned”, he said.

He described Georgia’s recent progress as an inspiring example for other regions, including the EU, where economic expansion remains modest.

“A 9 percent growth rate, or even a 7 percent growth rate, is a strong example and reason for this. The EU should learn from it, as their economic growth is much lower. There are many smart people in the EU. Why don’t they come and study Georgia’s success formula and history?”, he noted.

Alabbar emphasised that his company’s investment in Georgia would not only support local infrastructure development but also encourage other international investors to follow suit.

“We will build everything - restaurants, real estate, residential complexes - and beyond all this, our contribution in terms of motivation is significant. We will motivate other investors, as our substantial contribution will create a domino effect, leading to a concentration of investments in young states”, he concluded.