The development company Eagle Hills plans to implement two projects in Georgia, in Tbilisi and Gonio, with a combined value exceeding USD 6.5 billion. According to the agreement, Georgia will act as a partner and co-owner, holding a 33% stake in the enterprise.
“It is particularly significant that, despite the scale and unprecedented nature of this investment, the state has not granted any special or privileged regime to the investor or the project. Instead, we have gained a unique opportunity; the state has become a co-partner in a joint venture, which means it now co-owns the land in Tbilisi and Gonio,” Kvrivishvili explains.
Regarding the broader implications of this substantial undertaking, the Minister underscores the economic benefits it will bring to the country as a whole.
“Apart from the investment itself, which serves as a vital counterbalance to economic development, the state will also receive dividends and income that will contribute to the national budget. This clearly demonstrates that this is a genuinely Georgian project,” she emphasises.
Moreover, Mariam Kvrivishvili highlights the project’s potential to generate employment opportunities for local residents, which will also help mitigate labour migration from Georgia. Over 30,000 jobs are expected to be created across Tbilisi and Gonio.
“The project will generate substantial demand for commercial spaces, including new accommodation facilities, hotels, and restaurants. These developments will actively involve local entrepreneurs and provide significant employment opportunities. On the one hand, this ensures that Georgians will have access to dignified employment, and on the other, it will help reduce labour migration by creating attractive opportunities within the country,” she notes.
Importantly, the project will be realised with the involvement of local professionals, Georgian architects, designers, builders, and engineers, who will be employed on the site, alongside Georgian citizens involved in already completed phases.
The USD 6.5 billion initiative is also expected to have a notable impact on tourism, with an anticipated increase of over 350,000 visitors annually. Preliminary forecasts suggest that the project will attract an additional USD 10 billion in foreign direct investment. Experts believe that in the coming years, Georgia has the potential to become a high-income country, with a significant rise in per capita income, driven largely by this unprecedented investment from Eagle Hills.
“We have observed false claims and attempts to link migration with this investment. It is well known that Georgia enforces strict migration laws, and our country’s policies regarding illegal migration are among the strictest worldwide. Therefore, the risk of illegal migration associated with the Eagle Hills project is zero,” Kvrivishvili affirms.
The Minister dismisses any connection between the project and unfounded speculation about increased illegal migration, emphasising that such claims are baseless and unrelated.
Under the agreement between Eagle Hills, one of the UAE’s leading development companies, and the Georgian government, two projects worth over USD 6.5 billion will be realised in Georgia. This marks the largest foreign investment in Georgian history and promises to transform the urban landscapes of Tbilisi and Batumi, establishing internationally recognised complexes.
These developments will boost Georgia’s gross domestic product, attract hundreds of thousands of visitors annually, and generate thousands of jobs, contributing significantly to the country’s future growth.
