As part of the liquidation of the Georgia Development Fund, a total of 699,934 square meters of land will be transferred from the fund to the National Agency of State Property, according to a government decree. The largest plot, measuring 258,821 square meters, is located in the village of Aghtaklia, adjacent to Eagle Hills’ project.
Under the government decree dated September 21, six land plots will be registered as state property. Two are located in Oni Municipality, three in Sagarejo Municipality and one in Aghtaklia. The Aghtaklia plot, cadastral code 81.06.13.325, covers 258,821 square meters. The Georgia Development Fund, successor to the Partnership Fund, is currently undergoing liquidation, with the deadline extended from September 1, 2026, to April 1, 2027.
The liquidation process also involves transferring several wholly owned subsidiaries, including Hotel Borjomi Likani International, Rukhi Shopping Center, Partnership Fund Green Development, Startup Georgia, Likani Residence and Georgian Natural Products. The fund also holds minority stakes in several companies, including aircraft composite parts manufacturer Tsiklon and Racha ham producer KSH Caucasian Sous Heritage.
Another part of the liquidation concerns projects where the Georgia Development Fund acts as a creditor. Loan agreements for these projects must be amended before the liquidation is completed, after which the National Agency of State Property will replace the fund as the creditor.
