Georgia signs $6B investment deal with Emirati firm Emaar

Multi-purpose development projects to be carried out in Georgia thanks to Emaar's investments, says prime minister

By Davit Kachkachisvili

TBILISI, Georgia (AA) - Georgia signed a memorandum for a $6 billion investment with Emirati firm Emaar Group as part of Prime Minister Irakli Kobakhidze's official contacts in the United Arab Emirates.

Kobakhidze told local media that the deal marks the largest investment in Georgia's history.

Emaar Group is a well-known company with extensive experience in large-scale investments, he noted.

“This multifunctional development project will create modern infrastructure in Tbilisi, Batumi and Gonio, significantly boosting our economy, accelerating growth and generating new jobs. This initiative is also expected to attract additional investors to Georgia,” said Kobakhidze.

“Today’s agreement marks a pivotal step in our country’s economic development,” he added.

Kobakhidze also met with the Emirati President Sheikh Mohamed bin Zayed Al Nahyan.

*Writing by Gokhan Ergocun from Istanbul

Kaynak: