Georgian PM on Eagle Hills project: no Georgian land being sold to foreigners, state remains co-owner

The Georgian state remains a co-owner of the land plots in question, and the partner company has no ability whatsoever to alienate the land, the Georgian Prime Minister Irakli Kobakhidze stated on Wednesday during a hearing in the Parliament.

According to the Prime Minister, the land can be used solely for one specific purpose: the implementation of a designated development project.

“This is fully guaranteed by the agreement signed between the state and Eagle Hills. Both plots are classified as non-agricultural land which, after the completion of construction, will no longer have autonomous functional value and will instead be attached to the corresponding buildings. In other words, the land will not exist as an independent asset, since it is designated as non-agricultural. One of the messages spread by opponents of the project is that Georgian land is being sold to foreigners. It is very easy to state that no Georgian land is being sold to foreigners. The message we can deliver to the public is very simple”, the PM said.

The Prime Minister also noted that there are no essential provisions in the agreement that are unknown to the public.

“I would like to ask MPs to imagine any theoretical clause that could be included in this agreement and about which you would want information. A representative of one party raised such a theoretical question, suggesting that the agreement might include provisions on building mosques. You are free to ask such theoretical questions - whether anything of that kind is included. Just as we can clarify in the case of mosques that, of course, there is no provision for constructing any mosques, we will answer your questions. Moreover, it can be said in general terms that there is no non-commercial element included in this agreement. The same applies to mosques, or, for example, special incentives for foreign buyers. The agreement provides no such benefits, including those related to residence permits. And, naturally, it contains no discriminatory clauses that would disadvantage Georgian citizens. For example, it does not specify who may be employed or who may purchase property. All such issues will be regulated by market mechanisms, as is the case with other investments”, he noted.

“You may ask any theoretical question - whether there is any hypothetical clause in the agreement that could potentially harm the state or our citizens - and we will respond. Every essential provision included in this agreement is already known to the public, and due to the high public interest, I have personally shared this information with society”, Kobakhidze concluded.