Eagle Hills project to bring highest-standard infrastructure to Krtsanisi and Gonio which will provide the best conditions for both Georgian citizens and visitors to Georgia-PM

Eagle Hills will begin construction work in Krtsanisi and Gonio in a few months — the largest investment project in Georgia’s history, valued at 6.6 billion USD, which will provide a completely new impetus to the country’s economic development, Prime Minister Irakli Kobakhidze announced.

According to him, the project will directly improve the well-being of Georgian citizens in several ways.

“One of the world’s largest development companies from the United Arab Emirates — Eagle Hills — will start construction in Krtsanisi and Gonio in the coming months. This is the largest investment project in Georgia’s history, worth 6.6 billion dollars, which will give a fundamentally new stimulus to the development of the Georgian economy.

The project includes the construction of approximately 16,000 residential houses and apartments; hotels with more than 1,400 rooms and apartments; as well as office, retail, entertainment, sports, and other commercial spaces. Most importantly, the project will directly benefit our citizens in various ways.

First — employment: the Eagle Hills project will create more than 24,000 jobs during the construction phase and over 8,000 permanent jobs after completion. According to the company’s policy, Georgian construction companies will carry out the work, further contributing to the development of the domestic business sector.

Second — economic growth: the direct impact of the project on the Georgian economy will amount to approximately 11 billion GEL.

Third — state budget growth: starting from the launch of construction, the budget will receive at least 500 million GEL annually in taxes. In addition, under the agreement, the state retains 33% of the project’s profits, bringing at least 2 billion GEL to the budget over ten years — an average of 200 million GEL per year.

Furthermore, the project will support tourism development in Georgia, creating new tourism products and new attraction centers, particularly helping the Adjara region develop into a four-season tourist destination,” Kobakhidze said.

The Prime Minister emphasized that claims about “Arab cities” being built in Georgia are false.

“Some ill-wishers have launched an anti-state campaign against this unprecedented investment project, based entirely on lies. A project of this scale strengthens the Georgian economy and the state’s independence — something that clearly troubles those who oppose the country’s progress.

One of the main disinformation messages claims that two ‘Arab cities’ will be built and ‘Arabization’ will begin. I would not have responded to this nonsense if it had not influenced several respected individuals. Concerns about migration are understandable, which is why I want to provide full information about the myth of ‘Arabization.’

In reality, not two Arab cities, but two beautiful Georgian, European-style development areas will be created near Tbilisi and Batumi. A total of 16,000 residential units will be built. Even if foreign citizens purchase 60% of these, that amounts to only 9,600 apartments. Over the past four years, foreigners have bought more than 60,000 apartments in Georgia — and this has not created, nor will it create, any demographic problems. These simple statistics alone prove how false the claims about demographic threats are.

Foreign buyers will not receive any special privileges regarding residence permits. The Eagle Hills expectation of selling 60% of units internationally stems only from their global sales network. However, considering Georgia’s fast economic growth and the company’s pricing policy — which will make the housing accessible not only for high-end buyers but also for middle-class Georgians — we reasonably expect Georgian buyers to exceed 50%,” he noted.

Kobakhidze also rejected claims that Georgian land is being given away.

“Opponents claim that Georgian land will be transferred to foreigners. As is well known, the Georgian Dream government introduced the constitutional ban on selling agricultural land to foreigners. Georgia is also among the leading countries in combating illegal migration.

As for the 850-hectare Krtsanisi and Gonio land plots, the project envisions their use solely for development purposes, and the state remains a co-owner. Accordingly, no Georgian land will be transferred to anyone,” the Prime Minister said.

He also responded to allegations regarding construction scale and investment value.

“Critics claim that only one million square meters are being built and therefore the investment cannot amount to 6.6 billion dollars. This is false from the outset. In reality, 2.4 million square meters will be built on 850 hectares in Krtsanisi and Gonio.

Residential units will be constructed to the highest standards and delivered to buyers fully renovated. Residential spaces account for about half of the project, while the other half consists of commercial spaces, which have significantly higher construction costs per square meter.

A major investment will also be made in the development of the Gonio Yacht Marina and various commercial and recreational zones. New green areas will be added to Krtsanisi Forest Park, which is currently in poor condition — its rehabilitation alone would cost the state more than 150 million GEL.

Overall, this is not a standard development project where typical buildings are constructed and apartments are sold. In Krtsanisi and Gonio, the highest-standard infrastructure is being created, which will offer an exceptional environment for Georgian citizens and visitors alike. Anyone familiar with such projects will agree that the estimated investment amount is fully realistic,” Kobakhidze said.