Eagle Hills Georgia has recorded a full sell-out on the first day of the residential launch of Tbilisi Waterfront, with all released units sold during the official opening.
Sales momentum continued into the second day, when an additional release of units was also sold in full. The launch recorded turnover levels linked to buyer demand and interest in Georgia’s property market.
The first phase of Tbilisi Waterfront includes more than 300 residential units, consisting of apartments, townhouses and villas located along the river. The phase also includes the Bristol Hotel and branded residences linked to the hotel.
Georgian buyers account for nearly 60 per cent of sales
According to Eagle Hills Georgia, close to 60 per cent of the units were purchased by Georgian buyers. International buyers also took part in the launch.
“The response to Tbilisi Waterfront has been truly remarkable and speaks to the strength of Georgia’s market and the confidence of its people. This development is a reflection of our long-term belief in Tbilisi as a unique destination, and our commitment to continue delivering high-quality, planned developments that create lasting value for communities,” Mohamed Alabbar, Chairman and Founder of Eagle Hills said in a statement.
The total investment value of Tbilisi Waterfront is approximately $3.5 billion. The project is positioned as a source of foreign direct investment and is expected to contribute to Georgia’s GDP through construction activity and long-term operations in hospitality, retail and property management, as well as indirect economic impact.
The launch adds to Eagle Hills Group’s activity in Georgia. The company is also developing Gonio Yachts & Marina in Batumi, a 260-hectare waterfront project centred on a marina district.
The Batumi development will include branded residences, hotels, retail areas and green open spaces, with an official launch planned at a later date.
Combined investment across Tbilisi Waterfront and Gonio Yachts & Marina exceeds $6.7 billion, according to the company.
