“We are laying the foundation for the first and largest building on Ambassador Island, which will establish a qualitatively new standard in this region and in the Black Sea region,” said Georgian Prime Minister Irakli Kobakhidze during the ceremony for the launch of the construction of Ambassador Island Batumi’s first skyscraper.

According to the PM, the project confirms the reality of fast and effective implementation of the boldest and most ambitious ideas in Georgia.

“Today’s event is truly historic. We are laying the foundation for the first and largest building on Ambassador Island, which will establish a qualitatively new standard in this region and in the Black Sea region. This is an unprecedented initiative, since the formation of 84 hectares in the sea is a complex engineering challenge. Today, we can already see that more than 50 per cent of the earthworks have been completed, and 48 hectares of land have already been put into operation. This is an obvious confirmation that fast and effective implementation of the boldest and most ambitious ideas is a reality in Georgia.

The economic scale of this project is truly valuable. The first skyscraper alone is being built with an investment of USD 200 million. Once the island is fully operational, the budget will get an annual tax revenue of USD 65 million.

The PM underscored the significance of synergy between Georgian business potential and the government’s correct policy in bringing benefits.

Irakli Kobakhidze remarked that 49% of Iceland will be recreational zones.

“The works are being carried out with the direct involvement of the world’s leading international engineering and urban planning companies, including the British Arup, which ensures the highest level of adherence to the principles of ‘smart city’ and sustainable development. The project’s scale and economic significance clearly demonstrate how much benefit the synergy of the Georgian business potential and the government’s correct policy can bring, and this day sets the best example of such successful cooperation,” he said.

The PM extended gratitude to each employee of Ambassador Group, to architects, engineers, constructors and other specialists.

“In 2029, we will already see the first completed skyscraper. This will be a new symbol of development and progress, which will further add value to Batumi and, in general, Georgia on the world’s investment and tourism map,” he concluded.