Abu Dhabi’s Eagle Hills plans to invest over $5.5 billion to help develop cities in Georgia
Eagle Hills, a property developer based in the UAE, has made an agreement with the Georgian government to invest more than $5.5 billion in developing the country’s cities.
Driving city growth
Under an agreement, the two parties will work together on two projects: one in Tbilisi, the capital of Georgia, and another in Batumi, a city on the coast.
These projects aim to promote sustainability and new ideas while creating high-quality buildings and improving Georgia’s economy.
In Tbilisi, the Krtsanisi Park project is located near the river, covering 590 hectares of land, with 170 hectares dedicated to parks and plants. The development will include homes, shops, and a luxury spa and wellness center.
In Batumi, the Gonio Marina project is located by the Black Sea coast, covering 260 hectares. It will include a marina area with homes, high-end hotels, shopping parks, and large green spaces.
These projects are expected to create many jobs, boost Georgia’s economy, grow the real estate market, and help tourism.
Other investments
In July 2024, Eagle Hills signed a $3 billion agreement with Indonesia’s Ministry of State-Owned Enterprises to support tourism and infrastructure development.
Earlier in March 2024, Eagle Hills announced it would invest up to $7 billion to revamp a neighborhood in the center of Budapest, Hungary.
In February, Eagle Hills also formed a $4 billion partnership with Bahrain to create a new real estate company, Binaa Al-Bahrain, which will focus on real estate projects in Bahrain with help from the country’s investment fund.
Published: 28th January 2025
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