Hogan Lovells advises Government of Georgia on landmark $6 billion urban development partnership with Eagle Hills

The agreement, which involves a planned investment of over USD 6 billion, will drive the transformation of Georgia’s urban landscape through two major sustainable developments in Tbilisi and Batumi.

The definitive agreements were signed by Mariam Kvrivishvili, Minister of Economy and Sustainable Development of Georgia, and Mohamed Alabbar, founder and chairman of Eagle Hills on 22 October 2025. 

This transaction represents one of the largest foreign direct investment initiatives in Georgia’s recent history. The projects are expected to generate thousands of jobs, bolster GDP growth, and significantly enhance Georgia’s real estate and tourism sectors.

The Krtsanisi development in Tbilisi covers over 600 hectares, including green and recreational spaces. It will offer sustainable urban living with residential units, retail, and a spa and wellness centre.

Gonio Marina in Batumi is a 260-hectare coastal project featuring a world-class marina, branded residences, luxury hotels, retail, and public parks, boosting Batumi’s appeal as a top international tourism destination.

Dr. Nikolas Zirngibl, Partner at Hogan Lovells, commented: “This transaction is a milestone for Georgia and a signal to the global investment community. We are honoured to support the Georgian government on such a visionary initiative that combines economic ambition with a clear commitment to sustainability and urban excellence.”

The Hogan Lovells team provided comprehensive legal counsel on all aspects of the transaction.

Hogan Lovells team for Government of Georgia

Dr. Nikolas Zirngibl, Partner (Corporate/M&A, München), Andreas Thun (Counsel), Nadja Weber (Associate) (all Corporate/M&A, Munich);

Karl Pörnbacher (Partner), Nata Ghibradze (Counsel); Michael Pickelein (Associate), Elena Golbert (Business Lawyer, all International Arbitration, Munich);

Hannah Logan (Partner), Russell Clay (Senior Associate) (both Corporate/M&A, London);

Markus Burgstaller (Partner, International Arbitration, London);

Dr. Falk Schöning (Partner, Foreign Trade Law & Investment Control, Brussels).