Finance
Eagle Hills Commits Six Billion Dollars to Georgia Mixed-Use Developments
April 3, 2026
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Abu Dhabi-based real estate developer Eagle Hills has committed an estimated $6 billion to two major mixed-use development projects in Georgia, marking what industry analysts are calling the single largest foreign direct investment in the country's modern history. The projects, located at Krtsanisi Park near Tbilisi and a coastal site near Batumi, are expected to break ground in early 2026.
The Krtsanisi Park project envisions a master-planned community incorporating residential towers, commercial office space, retail facilities, and luxury hotel properties. The Batumi development will focus on resort-style hospitality and waterfront living, capitalizing on the Black Sea coast's growing appeal to international tourists and investors.
"This is a transformative investment for Georgia," said a senior government official at the project announcement. "Eagle Hills brings not just capital, but world-class expertise in creating integrated urban communities that attract residents, businesses, and visitors."
Eagle Hills, founded by Abu Dhabi-based developer Mohamed Alabbar — who is also the chairman of Emaar Properties — has a portfolio spanning the Middle East, Africa, and Eastern Europe. The company is known for large-scale, master-planned developments that combine hospitality, residential, and commercial components. The Site Selection Magazine noted that Georgia's favorable investment climate, strategic location, and growing tourism sector make it an attractive destination for Gulf-based developers.
The investment comes at a time when Georgia's real estate and construction sectors are experiencing significant growth. The country's economy expanded 8.8 percent in February 2026, with construction activity contributing meaningfully to the headline figure. The Eagle Hills projects alone are expected to generate thousands of construction jobs and provide a sustained boost to local supply chains.
Georgia has been actively courting Gulf investment in recent years. The country's visa-free regime for UAE citizens, growing air connectivity — including new Etihad Airways flights — and competitive labor costs have made it increasingly attractive to Middle Eastern investors looking for opportunities outside traditional markets.
However, some analysts have flagged potential risks. The International Monetary Fund has warned about the rapid expansion of real estate lending and unhedged foreign currency borrowing in the Georgian market. The IMF's recent staff visit report noted that while risks are not yet systemic, close monitoring of real estate sector exposure is warranted.
Nevertheless, the Eagle Hills commitment is being viewed as a strong vote of confidence in Georgia's long-term economic trajectory. With tourism revenues projected to reach $4.9 billion in 2026 and the hospitality sector expanding rapidly, the development could help cement Georgia's position as the premier tourism and investment destination in the South Caucasus.
