Emaar Properties/Eagle Hills, a prominent international development company, has committed to investing $6 billion in Georgia, representing the largest investment in the nation’s history. The memorandum of cooperation was formalized in Abu Dhabi during the visit of Georgian Prime Minister Irakli Kobakhidze.

The signing ceremony took place at the residence of the President of the United Arab Emirates and was attended by Georgian Prime Minister Irakli Kobakhidze and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

The memorandum was signed by Georgian First Vice Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili, Chairman of the Government of the Autonomous Republic of Adjara Tornike Rizhvadze, and Mohamed Ali Alabbar, Founder and Managing Director of Eagle Hills.

The agreement encompasses two major development projects, which had been under review by the Ministry of Economy and Sustainable Development and the Government of Adjara for several months. Preliminary assessments for these initiatives have already been completed.

According to Prime Minister Kobakhidze, this landmark investment will significantly enhance the quality and scope of Georgia’s development sector.

“Today, we signed a memorandum for an unprecedented $6 billion investment in Georgia by the esteemed Emaar Group, a company renowned for its extensive experience in large-scale development projects. This multifunctional initiative will establish modern infrastructure in Tbilisi, Batumi, and Gonio, providing a substantial boost to our economy, accelerating growth, and creating new employment opportunities. Additionally, it is expected to attract further investment to Georgia.

I extend my heartfelt gratitude to our partners and friends from the United Arab Emirates, the Emaar Group, and its chairman, Mr. Alabbar, for their cooperation. This agreement represents a transformative milestone in Georgia’s economic development,” stated the Prime Minister.