Archi Group Founder: Trump Tower is a leap between today’s and tomorrow’s real estate market

“Trump Tower is not just an ordinary real estate project; it is a leap between today’s real estate market and the market of the future,” Ilia Tsulaia, founder and CEO of Archi Group, said at the presentation of the Trump Tower Tbilisi project.

“Today is a very important day. This project is a bridge between today and tomorrow in terms of real estate.

Trump Tower is not just an ordinary real estate project; it is a leap between the real estate market of today and the market of the future. We have spoken with our partners many times about how Trump Tower would perhaps have been more realistic to develop five or 10 years from now. But we decided to get ahead of our time and build Trump Tower now, together with The Trump Organization and our partners, in order to raise the Georgian real estate market to a new level.

For this, I would like to express my great gratitude to our partners. I will name them, because each of them is a courageous person and a patriot of Georgia. We made a very important decision: the Pkhakadze brothers, our friends; Alex Sapir, representing The Sapir Organization, whose contribution was instrumental in connecting us with The Trump Organization; Lasha Meladze; Lasha Kvachadze; and Mr. Kakha Koba Ivanov.

I would like to thank everyone who became involved in and supported this project, as well as my partners, including Zaza Pachulia, who came from San Francisco and supports us, and Manny Benish, our 20-year partner, who also came with a delegation from Israel. I would like to thank each and every one of them,” Tsulaia said.

According to Tsulaia, the project would not have been possible without the economic progress Georgia has achieved in recent years, including average economic growth of around 9% over the past five years.

“The real estate market has accordingly been growing by 10-15%. This pace of the country’s development gave us the courage to make such a decision and undertake a project of this scale.

It will be a $2 billion investment project comprising six towers, with Trump Tower serving as the first tower in the district we are developing — the new Downtown Tbilisi.

Downtown Tbilisi will feature luxury-class hotels, with Trump Tower as the first tower, as well as other branded towers, a business center and luxury retail spaces. All of this will be developed in Tbilisi, and through this, the city will stand alongside major cities where Trump Towers have already been developed, such as New York, Chicago, Las Vegas and Miami,” he said.

Tsulaia also singled out Eric Trump, Executive Vice President of The Trump Organization, for special thanks.

“I would like to particularly highlight Eric Trump, the organization’s vice president. We spoke today as well. He had a great desire to come to Georgia, called several times and was interested in how the process was progressing.

When we first met, he spoke about Georgia with such warmth and sincerity and was so enthusiastic about bringing Trump Tower to Georgia that we made our decision almost immediately. We had traveled to the United States with our friends and partners, and we immediately decided to move forward and signed the agreement to bring Trump Tower to Georgia.

Eric was precisely the person who gave us the courage and enthusiasm to take on such a major project. Therefore, I would like to express my special gratitude to Eric Trump,” Tsulaia said.