Georgia confirms no financial liability in Arab Eagle Hills project

Georgia will not assume any financial obligations toward the Arab development company Eagle Hills, Prime Minister Irakli Kobakhidze confirmed.

Kobakhidze made the remarks regarding the October 2025 investment agreement signed with Emaar Properties/Eagle Hills, as well as a joint venture agreement under which the Arab investor will carry out development projects totaling $6.6 billion in Tbilisi and Gonio, Caliber.Az reports, citing Georgian media.

“A single company will be established, in which one-third will belong to the state and two-thirds to Eagle Hills. The Georgian state does not assume any financial obligations, guarantees, or any special conditions in favor of the investor,” Kobakhidze said. He added that all financing and project management responsibilities will rest with the Arab company.

Addressing concerns about land ownership, the Prime Minister emphasized that the investor has no rights to sell the land. “The co-owner of the land plots is the Georgian state, and the partner company has no possibility to sell the land. This land can only be used for the implementation of the project,” he explained.

Kobakhidze also noted that the costs associated with rehabilitating the Krtsanisi forest park will be fully covered by the Arab company.

He stressed that the project will be limited to the construction of commercial buildings, and that no benefits for foreigners—including residency permits—are planned under the agreement.

By Vafa Guliyeva