“It is important for us to engage in projects that not only serve private interests, but also strengthen the state”
At the Tbilisi Silk Road Forum, Kedaro Group discussed plans for future cooperation with investors. The forum, held at the Tbilisi Opera and Ballet Theatre, was opened by the Prime Ministers of Georgia, Armenia, and Azerbaijan. Kedaro Group’s founders, Ekaterine Tchigladze and Nino Osephashvili, attended as delegates, joined the panel discussion “Georgia — A Crossroads for Investment,” and held bilateral meetings with foreign and Georgian prospective partners.
The panel opened with remarks by Prime Minister Irakli Kobakhidze and Mohamed Ali Alabbar, founder of Eagle Hills. Mr. Alabbar noted that Georgia’s investment climate—its operating environment, sectoral policy, history, and reforms—is conducive to investors. He added that economic growth of 7–9% is a strong signal, and that investment decisions track positive macroeconomic indicators.
As announced, Emaar Group will invest US$6.5 billion in two projects in Georgia—one in Tbilisi’s Krtsanisi district and another near Batumi in the Gonio area. Georgia has been designated a partner in Eagle Hills’ projects and a 33% equity co-owner. The investment decision was formalized between Georgia’s Ministry of Economy and Sustainable Development and Eagle Hills during the forum.
Kedaro Group co-founder Ekaterine Tchigladze emphasized the strategic significance of the decision, noting that it reflects the interest of the Georgian state:
“It is a great honor for us to take part in this forum and to learn from the experience of a major developer such as Emaar. As you know, Emaar will invest US$6.5 billion in Georgia—an important step for the country’s economy. Very soon, an introductory meeting will be held between Emaar and Kedaro Group to set out our roadmap for cooperation. This will enable our clients to invest in the project. It is important for us to engage in projects that not only serve private interests, but also strengthen the state.”
Under the “Eagle Hills Georgia” initiative, modern and diversified infrastructure will be developed in areas around Tbilisi and Batumi, including the construction of a yacht marina in Batumi.
The fifth, two-day edition of the forum took place on 22–23 October, bringing together high-ranking political leaders and representatives of the business community and international organizations.