Kobakhidze: Georgia’s “Arabisation” concerns proven false

Georgian Prime Minister Irakli Kobakhidze said that claims of “Arabization” in Georgia have not materialised, addressing concerns that local citizens would be unable to purchase apartments in the Eagle Hills residential development and that the property would be sold exclusively to Arab investors.

Speaking at a city government meeting, Kobakhidze said that opposition figures had used the term “Arabisation” to stigmatise the project. “They claimed that, in practice, Georgians would not be able to buy apartments and that they would be sold exclusively to Arabs. That was the opposition’s forecast,” he said.

Georgia signed an investment agreement in October 2025 with the major Arab real estate developer Emaar Properties/Eagle Hills, as well as a joint venture agreement. Under these agreements, the Arab investor is set to implement development projects worth $6.6 billion near Tbilisi (Krtsanisi) and in Gonio.

According to data presented by the prime minister, 257 apartments in the Krtsanisi Eagle Hills project have already been sold: 147 to Georgian citizens and 110 to foreigners, with only eight units purchased by citizens of Arab countries.

Kobakhidze added that opposition claims that Georgians would be unable to buy apartments because prices would exceed $10,000 per square meter were unfounded. “The opposition cited $15,000. They apparently thought they knew the sale prices, but contrary to their claims, the starting price was $1,650. They overstated the actual price by roughly ten times,” he said. The prime minister emphasised that the apartments are accessible to the average Georgian buyer.

Georgia has become a shareholder in the $6.6 billion Eagle Hills project, owning 33% of the shares in the Arab company’s subsidiary. The state retains co-ownership of the land and potentially developable assets. Authorities will not participate in raising capital, and the investment risk lies with the developer.

The project plans include constructing a new residential district on a 590-hectare site near Tbilisi, as well as creating an artificial bay, a yacht club, and another residential area on a 260-hectare site north of the Black Sea resort city of Gonio in the Autonomous Republic of Adjara.

Emaar Properties is a multinational real estate company headquartered in the United Arab Emirates, owning over $30 billion in assets worldwide and operating in many countries across Asia, Europe, and North America.

By Vugar Khalilov