Mohamed Ali Rashed Alabbar, the Founder and Managing Director of Emaar Properties, a UAE-based real estate development company, expressed confidence on Monday that the $6 billion investment agreement signed earlier in the day would serve as an impetus for additional investments in Georgia.

The agreement, finalized with the Georgian government during Prime Minister Irakli Kobakhidze’s visit to Abu Dhabi, outlines a “multifunctional development project” in the Georgian capital of Tbilisi, the Black Sea city of Batumi, and the coastal town of Gonio.

Alabbar remarked, “Our significant investment in Georgia will attract many investors, as we have experienced in every country where we have initiated projects. They will look at Georgia and say, ‘Something extraordinary is happening here! We want to be part of it too.’”

He further emphasized the positive impact such large-scale capital investment has on a nation’s economy, stating, “It is a great pleasure and honor to work in Georgia. I promise you we will deliver a successful project. When such a substantial investment is made, it significantly benefits the economy.”

Alabbar also expressed pride in sharing Emaar’s three decades of experience in urban development with Georgian partners, particularly in Tbilisi and Batumi.

Over the past 35 years, Emaar has expanded its operations to over 15 countries. Reflecting on his initial impressions of Georgia, Alabbar noted, “When I first arrived in Tbilisi, the city captivated me with the beauty of its people, its natural landscapes, architecture, and lifestyle. The cuisine was equally remarkable. Batumi also impressed me with its vibrancy and charm.”

He emphasized that participation in this project signifies Emaar’s commitment to sharing its expertise and investing in large-scale urban development in Tbilisi and Batumi. “I have dedicated my career to implementing significant projects and advancing urban development,” he added.

Alabbar concluded by highlighting his admiration for Georgia’s energy, economic stability, and growth, stating, “It is truly a pleasure to be involved in such an initiative, and I am particularly impressed by the dynamic energy I sense in Georgia.”

Georgian Economy Minister Levan Davitashvili also commented on the significance of the agreement, describing it as the “largest foreign investment deal” since Georgia regained its independence in the 1990s. He noted that the deal is expected to contribute approximately 1.5 percent to the growth of the national economy. Furthermore, Davitashvili indicated that Tbilisi and Batumi are expected to experience growth rates of two to three percent annually as a result of the planned investments.