“I thank the Georgian government, the Prime Minister, and the Mayor for their trust. The total investment in both projects will amount to approximately $6 billion. This is expected to have a threefold positive effect on the local economy,” said Mohamed Ali Rashed Alabbar, Founder and Managing Director of Emaar Group.

Alabbar highlighted that the investment would inspire other investors, emphasizing that something remarkable is happening in Georgia.

Speaking on his impressions of Georgia, Alabbar praised the country’s beauty, culture, and energy, which inspired the decision to bring Emaar Group’s development expertise to the region.

“When I first visited Tbilisi, I was really blown away. I was blown away by the beauty of its people, the beauty of the landscape, architecture and just the life, your food is incredible. I went to Batumi and then I was really taken away by its energy and its beauty.

What excites me the most is the energy that I see in Georgia, the economic stability and the economic growth. Of course, massive projects like that, their impact on the local economy is massive. Typically project like that moves up GDP between 2 to 4%. It has an effect on employment during and after construction,” he said.

He noted that projects will involve local contractors, architects, designers, and material suppliers, enhancing economic activity.

Alabbar also underscored Emaar’s commitment to sustainability, promising the use of advanced environmental practices in the developments.

“All of that affects economic activities, job creation, also government income, because we have to pay taxes, people get employed and get good benefits. So, you should really think about three and up in GDP value,” he added.