Eagle Hills has signed a Memorandum of Understanding (MoU) with the Government of Georgia to develop two large-scale projects in Tbilisi and Batumi.
Supported by the governments of the UAE and Georgia, the partnership is expected to contribute significantly to the region’s economic and urban development.
“Georgia holds immense promise and potential. Our commitment to investing in this vibrant nation stems from a shared vision with the Government of Georgia to create thriving, sustainable communities that honour the country’s natural beauty and cultural heritage,” Mohamed Alabbar, the founder and chairman of Eagle Hills said.
Eagle Hills signs $5.5bn MoU with Georgian government
The first project, Krtsanisi Park, is located in Tbilisi and covers 590 hectares, of which 170 hectares are dedicated to parks and greenery.
The mixed-use development includes residences, retail spaces, and a spa and wellness centre. The project aims to create a balance between urban living and natural surroundings.
The second development, Gonio Marina, is situated in Batumi along the Black Sea coast. Spanning 260 hectares, it features a marina district, branded residences, hotels, retail areas, and park spaces. The project is designed to promote green living while enhancing Batumi’s position as a global destination.
The combined investment in the two developments exceeds $5.5 billion. The projects are expected to generate thousands of jobs, drive GDP growth, and support the real estate and tourism sectors.
“Together, the developments will generate thousands of jobs, drive GDP growth, strengthen the real estate sector, and enhance tourism, attracting a significant influx of tourists annually. By integrating extensive green spaces and sustainable practices, Eagle Hills is crafting vibrant communities that celebrate Georgia’s natural charm and cultural heritage,” Eagle Hills said in a statement on Monday.
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