“At this pace and on this scale, when you learn about Georgia’s economic achievements, you realise the remarkable growth the country is experiencing; among the highest in the world. It becomes evident that you are doing something very right, and that a great deal of effort is clearly being invested. This is no easy feat,” stated Mohamed Alabbar, founder of EMAAR Group, in his address at the opening of Eagle Hills’ office in Georgia.

As Mohamed Alabbar observed, Georgia demonstrates the highest indicators in the world; no other country matches such economic growth.

“One must consider how it is possible to achieve an 8-9, even 7 per cent growth in a country; I have the economic indicators in mind. Success in this area is certainly no easy feat. With 40 years of experience, I can tell you that every day feels like a battle for me, focusing on economic progress and development, particularly within my own company. At the same time, I want to emphasise that you are attaining some of the highest indicators in the world; no one else is experiencing such rapid economic growth. Many countries should look to you and learn from the instruments you use, the initiatives you and your team are implementing at this pace and scale.

It is clearly sound policy that is proving effective. This is a tremendous effort by the people and a significant achievement for the team. It is crucial for us, as investors. We have calculations to make, determining whether we will turn a profit, or whether we will succeed in a particular venture, or in a specific country. I believe everything is progressing smoothly. A great deal of work has been accomplished over the past year and a half.

Our collaboration began even before the agreement was signed. We support one another and motivate each other along the way. We hold our relationship in the highest regard and approach it with great care. Our entire team is deeply committed to you and sincerely grateful for the trust you have placed in us to undertake such a significant investment.

Not only did you trust us, but you also opened your country’s doors wide to us. Your treatment of us goes beyond that of mere investors; you have embraced us as family. Such an attitude is truly exceptional and exemplifies the warmth and hospitality shared by everyone in Georgia,” stated Mohamed Alabbar [The quotes were translated from Georgian language simultaneous interpretation].

EMAAR Group is set to develop cutting-edge urban projects in Tbilisi and Batumi. According to the company, the Tbilisi Waterfront and Gonio Yachts & Marina projects, with an investment of USD 6.5 billion, will foster growth in Georgia’s gross domestic product, attract over 350,000 visitors annually, generate more than USD 10 billion in foreign direct investment, and create upwards of 30,000 jobs across the construction, retail, hospitality, and entertainment sectors.