The UAE and Georgia have strengthened their economic ties with a historic $6 billion investment agreement. The deal, signed in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Georgian Prime Minister Irakli Kobakhidze, will fund major development projects in Tbilisi and Batumi.

The Georgian government hailed this as the largest investment in the country’s history. Emaar Properties/Eagle Hills, a prominent development company, will lead the projects. The memorandum of understanding was signed by Mohamed Alabbar, chairman of Eagle Hills Abu Dhabi, Levan Davitashvili, Georgia’s First Vice Prime Minister and Minister of Economy and Sustainable Development, and Tornike Rijvadze, chairman of the Government of the Autonomous Republic of Adjara.

“Today, we signed a memorandum that envisages an unprecedented investment in our country,” said Prime Minister Kobakhidze.  He emphasized the $6 billion investment from Emaar Group, a company with “exceptional experience in the investment sector,” and highlighted the multifunctional development projects planned for Tbilisi, Batumi, and Gonio. 

Eagle Hills described the projects as transformative, intending to reshape Tbilisi and Batumi into vibrant, sustainable destinations. The developments are set to create jobs, stimulate GDP growth, strengthen the real estate market, and boost tourism, all while integrating green spaces and sustainable practices that honor Georgia’s heritage.

In Tbilisi, the Krtsanisi Park development will cover 590 hectares along the river, blending urban living with nature. The project will include residences, retail spaces, and a wellness center, all within 170 hectares of greenery. In Batumi, the Gonio Marina project will span 260 hectares along the Black Sea waterfront, offering branded residences, luxury hotels, retail parks, and open green spaces.

Sheikh Mohamed reaffirmed the UAE’s commitment to international partnerships, emphasizing the Comprehensive Economic Partnership Agreement (CEPA) between the two countries as a key milestone in economic collaboration.

Prime Minister Kobakhidze expressed gratitude for the UAE’s warm welcome and highlighted Georgia’s dedication to further strengthening their collaboration for sustainable economic growth and prosperity. Both leaders expressed confidence in the ongoing growth of UAE-Georgia relations.