In an interview with Rustavi 2, Georgian Dream’s Minister of Economy said they have information from Eagle Hills that construction work will begin around mid-2026.
“First of all, it should be said that the project is quite complex. The investor states that in a few months they will be ready, and that construction work will likely begin in the middle of next year. It should also be clearly stated that this project must undergo all procedures required for a standard development or new settlement project — including approval of the development plan and the issuance of a construction permit.
The project will be fully coordinated with the state. It should also be said that the state, as a shareholder, enters certain management functions of the company through its specific leverage. However, our roles are very clearly divided. The state, of course, does not get involved in business management. The investor fully assumes responsibility for implementing the project, financing it, and so on. The state, for its part, has provided the land,” Kvrivishvili said.
The development company EAGLE HILLS will implement two projects in Georgia — specifically in Tbilisi and Gonio — worth more than $6.5 billion. According to the signed agreement, Georgia is a partner in these projects and owns a 33% stake in the company.
The Georgian Dream government has classified the “Investment Agreement” and “Shareholders’ Agreement” signed with EAGLE HILLS as commercial secrets, which means that the details of the investment terms of the $6.6-billion real estate project will not be made public.
