UAE-based developer Eagle Hills has signed a term sheet with Georgia’s Ministry of Economy and Sustainable Development to develop two large-scale projects: Tbilisi Waterfront and Gonio Yachts & Marina.
The announcement was made during the official visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to Georgia , marking a new phase in bilateral economic cooperation.
Major investment impact
The projects, with a combined investment of over USD 6.5 billion, are expected to generate more than USD 7 billion in GDP for Georgia over the next decade.
They are also projected to create over 31,000 jobs and attract more than USD 10 billion in foreign direct investment, particularly in tourism, luxury real estate, and marina-related services.
The developments are forecast to bring in over 370,000 new tourists annually, contributing to growth across key sectors such as construction, retail, logistics, and hospitality.
Tbilisi Waterfront, located on the hillsides of the capital, will offer views of both the river and city. Meanwhile, Gonio Yachts & Marina in Batumi will serve as a new waterfront destination anchored by a luxury marina on the Black Sea coast.
Both projects aim to integrate sustainable design features, including energy-efficient infrastructure, smart city systems, green public spaces, and preservation of natural habitats, particularly migratory bird areas along the coast.
tanvir@dubainewsweek.com
