UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today welcomed His Excellency Irakli Kobakhidze, Prime Minister of Georgia, who is on a working visit to the UAE. During their meeting at Qasr Al Shati, His Highness extended a warm welcome to the Georgian Prime Minister, wishing the country and its people continued progress and prosperity.
During the meeting, Sheikh Mohamed and Kobakhidze witnessed the signing of a memorandum of understanding on investment to establish development projects in Georgia.
“The largest investment in the history of Georgia – the development company Emaar Properties/Eagle Hills will invest $6 billion in Georgia,” said the Georgian government in a statement.
Developments to take place in Tbilisi, Batumi
His Excellency Mohamed Alabbar, chairman of the board of directors of Eagle Hills Abu Dhabi, His Excellency Levan Davitashvili, First Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia, and His Excellency Tornike Rijvadze, chairman of the Government of the Autonomous Republic of Adjara, signed the deal in the presence of several officials from both countries.
“Today we signed a memorandum that envisages an unprecedented investment in our country, this is an investment of $6 billion which will be implemented in Georgia by a company with exceptional experience in the investment sector – the famous EMAAR Group. A multifunctional development project will be implemented, multifunctional infrastructure will be developed, on the one hand in Tbilisi, on the other hand in Batumi, Gonio. All this will significantly contribute to the development of our country’s economy, further accelerate the pace of economic growth, create new jobs, and all this will further attract other investors to our country, said the Prime Minister.
Developments to drive major influx of tourists
Eagle Hills revealed that this strategic partnership marks a significant milestone in the region’s development with the creation of two ambitious developments in Tbilisi and Batumi, reshaping these cities into vibrant destinations of sustainable living, world-class facilities, and economic vitality.
“The development 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,” the company said.
Krtsanisi Park in Tbilisi
Krtsanisi Park in Tbilisi is a distinctive riverside development that seamlessly blends urban sophistication with the serenity of nature. Spanning 590 hectares, with 170 hectares dedicated to parks and greenery, Krtsanisi Park is a mixed-use concept that embraces sustainability through elegant residences, retail spaces and a state-of-the-art spa and wellness center, offering a thriving community where nature and modern living coexist harmoniously.
Gonio Marina in Batumi
Meanwhile, Gonio Marina in Batumi is nestled along the stunning coastal shores and pristine beaches of the Black Sea and features a remarkable waterfront development centered around a world-class marina district. Gonio Marina, a stunning 260-hectare development, will offer branded residences, luxurious hotels, retail parks, and expansive open park spaces that emphasize green living. Combining panoramic views, a dynamic marina lifestyle and the eco-conscious innovative approach will position Batumi as a leading global destination while enhancing the natural beauty of the coastline.
UAE and Georgia to bolster cooperation in key areas
The two leaders discussed ways to enhance cooperation between the UAE and Georgia, focusing on key areas such as investment, trade, economy, agriculture, renewable energy, environment and sustainability. These sectors, among others, form part of the two nations’ joint development priorities.
“In this context, the large investment of Abu Dhabi Ports Group in the Tbilisi Dry Port project to open officially in 2025 was emphasized, and so was the successful completion of negotiations with EMAAR, a major developer, as a result of which multi-billion investments will be made in Georgia,” added the statement.
They also exchanged views on several regional and global issues of mutual interest, particularly those related to promoting peace, security, stability and development.
For his part, Sheikh Mohamed reaffirmed the UAE’s commitment to cultivating strong partnerships with other nations, including in areas that foster mutual development. He also highlighted the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which came into effect last year, describing it as a major milestone in their economic collaboration and emphasizing the UAE’s commitment to realizing its objectives to advance shared development.
“The Government of Georgia expressed its interest in continuing negotiations with the Abu Dhabi Investment Authority in order to further expand cooperation in the direction of strategic logistics and transport projects,” added the statement.
Notably, Eagle Hills Abu Dhabi is a real estate development firm with projects across Albania, Croatia, Bahrain, the UAE, Ethiopia, Hungary, Jordan and Latvia, among others. Some of its key projects include the Serbia Belgrade Waterfront, Nigeria Centenary City and Bahrain Marassi Al Bahrain.
Read| Abu Dhabi real estate: 125 percent surge in FDI as transactions hit $26.19 billion in 2024
Supporting sustainable economic growth
Meanwhile, the Georgian Prime Minister thanked Sheikh Mohamed for the warm welcome and highlighted Georgia’s commitment to strengthening collaboration with the UAE, aiming to advance shared interests and support sustainable economic growth and prosperity.
Both sides expressed confidence that UAE-Georgia relations would continue to grow stronger in the coming period, building on the numerous opportunities that align with their aim for sustainable development.
The meeting saw the attendance of Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior; H.H. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority; H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs; and Sheikh Mohamed bin Hamad bin Tahnoon Al Nahyan, Advisor to the UAE President.
In addition, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Ahmed Ali Al Sayegh, Minister of State; Mohamed Alabbar, Chairman of the Board of Directors of Eagle Hills Abu Dhabi; Ahmed Al Nuaimi, UAE Ambassador to the Republic of Georgia; attended, in addition to several ministers, top officials and the accompanying delegation of the Georgian Prime Minister that includes a number of ministers and senior officials.
