Lelo’s Datunashvili: Contract with EMAAR Group must be made public, simple way to see really behind hype

Tazo Datunashvili, a member of Lelo–Strong Georgia, states that the contract signed with EMAAR Group must be made public so that society can understand what profit and benefit the country will actually receive.

According to Datunashvili, the question concerns whether there is a risk of creating enclave urban points near Tbilisi and Batumi.

Tazo Datunashvili further explained that enclave development is generally considered unfavourable for a country, based on international practice.

“The party leader and the party are demanding that the contract be made public, which confirms that in the period during which this company will operate, an investment of genuinely 6 billion will come into the country. The simple way for Georgian society to see what really lies behind what we believe is hype is to publish this contract. The contract will clearly outline the details, allowing us to determine whether the profit that Georgian society stands to gain from this project is genuinely six billion, six million, or six hundred thousand.

Based on publicly available information about the project, it appears that it involves Georgian state land valued at approximately 600 million dollars in total. We are interested in understanding what the corresponding investment in return will be. We have been told that the market value assigned to the real estate will be quite high, with the primary aim of attracting international clients, particularly from the United Arab Emirates.

Therefore, we pose the following question: Is there not a risk of creating enclave-style urban centres near Tbilisi and Batumi? We have no issue with people of any nationality; our concern lies with enclave development, which, as evidenced by extensive international practice, including within Georgia, is not beneficial for a country’s progress. The state is entering into a partnership involving nine million square metres of land and, accordingly, is assuming business risks alongside a certain company. Georgian society and taxpayers need to understand why we are taking this risk, what realistic benefits we anticipate, and what gains we can expect.

What should we do now? Judge whether this investment is genuine or not based on Shalva Papuashvili’s physiognomy? Business is a straightforward, pragmatic matter; we are interested in the numbers.

We’re not saying this for speculation; it’s a simple matter, it concerns numbers; publish the contract and let’s discuss the details,” Tazo Datunashvili stated.