PM: Trump Tower Tbilisi project is historic for Georgia and capital’s development

“Today can confidently be described as a historic day for our country and for the development of our capital,” Georgian Prime Minister Irakli Kobakhidze said while addressing the presentation of the Trump Tower Tbilisi project.

According to the prime minister, the Downtown Tbilisi project and Trump Tower Tbilisi, conceived as its main symbol, go beyond the framework of urban development.

“A $2 billion investment and 600,000 square meters of modern space in the center of the capital will create a new reality for the country and a distinctive economic and tourist attraction.

This is a 280-meter, 62-story tower — a bold statement that will give Tbilisi a new appeal alongside the world’s leading urban centers.

This large-scale cooperation is entirely natural and logical: Georgia is a natural connecting bridge between Europe and Asia in many respects.

We have a consistent policy and an open economy, and the result is that Tbilisi and Georgia as a whole are becoming one of the most reliable and attractive destinations for global investors.

Five years ago, we probably would have found it very difficult to imagine such a large-scale project being implemented. However, our country has been developing at a very rapid pace over these years. It was noted today that our country has achieved an outstanding rate of economic growth during this period. In just these five years, Georgia’s economy has grown by almost 2.5 times in dollar terms. Naturally, such a trend and such dynamics create opportunities to implement projects of a new scale,” Kobakhidze said.

The prime minister said the involvement of global brand The Trump Organization and the Washington office of leading international architecture firm Gensler provides a strong foundation for the project’s success.

“It is particularly noteworthy that Georgian business is a worthy and full-fledged partner to global giants. This is clear confirmation that Georgian companies and capital have the resources and capacity to implement ideas on a global scale.

This project means thousands of jobs in our country and multi-year contracts for Georgia’s construction sector, and therefore represents a major stimulus for our economy.

In 2031, when Trump Tower is completed, and in 2033, when the entire district is finished, Tbilisi will receive a truly distinctive space that will harmoniously integrate with the renovated central park.

The Georgian government will continue to firmly support such projects and every investor in implementing similarly large-scale and long-term projects.

I would like to thank each of the companies involved — Archi, Invia, The Sapir Organization, Finvest, Blockstone Capital and Vector Group — for this initiative, and I wish them success.

I thank Downtown Tbilisi and Trump Tower, as well as our investors, for implementing and supporting this project. This support is very important to us.

I am deeply confident that this project will become another prominent symbol of our country’s economic strength, peace and progress, and a calling card for Georgia as a trustworthy, reliable and stable state,” the prime minister said.