GD Prime Minister Irakli Kobakhidze said the government expects the vast majority of apartments in the Eagle Hills projects to be purchased by Georgian citizens, despite different projections from the developer. Speaking during an interpellation session in Parliament, Kobakhidze addressed concerns about migration and the demographic impact of large-scale real estate sales linked to the two multibillion-dollar developments planned in Tbilisi and Gonio.
According to Kobakhidze, Eagle Hills founder Mohamed Alabar anticipates that around 60% of the 16,000 planned apartments will be sold to international buyers, citing the company’s global marketing presence. However, he argued that Georgia’s real estate market follows a consistent pattern in which roughly 80% of new apartments are purchased by Georgian citizens and only about 20% by foreigners. “Our expectation is that the Georgian share will remain close to 80%, as in other projects,” he said, stressing that fears of large-scale migration are unfounded and noting that 60,000 apartments sold to foreigners last year had “no impact on demographics.”
Kobakhidze also responded to criticism that apartment prices in the Eagle Hills projects will be unaffordable for Georgian buyers. He dismissed opposition claims that prices will reach USD 12,000 per square meter in Tbilisi’s Krtsanisi district or in Gonio, calling these statements “absurd” and part of a coordinated disinformation campaign. Using basic calculations, he argued that such pricing would generate unrealistic revenues of more than USD 19 billion solely from apartment sales, far exceeding reasonable market expectations.
The Prime Minister reiterated that both developments are intended to create “two beautiful districts” near Tbilisi and Batumi, rather than exclusive enclaves for foreign buyers. He emphasized that the government’s projections are based on real market trends rather than speculation and added that the final sales distribution will become clear once transactions begin.
