Trump Tower Tbilisi made its public debut on September 15 at an invitation-only event held at Tbilisi’s Funicular, drawing international business figures, investors and media for the first official unveiling of what developers are positioning as Georgia’s most ambitious real estate project to date.
The tower is the centrepiece of Downtown Tbilisi, a planned six-tower, eight-hectare development beside the city’s Central Park. Designed by Gensler’s Washington D.C. office, the 62-storey building will reach approximately 280 metres, which would make it the tallest structure in Georgia. The broader master plan spans roughly 600,000 square metres of gross building area, encompassing 46,500 square metres of retail space, 42,000 square metres of offices, 42,000 square metres of hotel space and 251,000 square metres of residential units. Total development cost is approximately US$2 billion.
Residences start at USD 290,000, with pricing from USD 7,000 per square metre. The project is financed by TBC Bank and Bank of Georgia, both of whose parent groups are listed on the London Stock Exchange.
The development is a collaboration between The Trump Organization, Archi Group and INVIA as main partners, with The Sapir Organization as co-developer and Block Stone Capital, Finvest Georgia and Vector Group as minority partners.
“This was the first real opportunity for people to see the scale and vision behind Trump Tower Tbilisi. It’s an exciting milestone for the project and for Downtown Tbilisi, which is quickly becoming one of the most dynamic business and lifestyle destinations in the region. We are so excited for Tbilisi’s future as an international investment and real estate destination. We’re incredibly excited to officially introduce Trump Tower Tbilisi and bring the Trump brand to the city,” Eric Trump, Executive Vice President of The Trump Organization said in a statement.
“Last night demonstrated the extraordinary excitement surrounding both Trump Tower Tbilisi and Georgia itself. Today, more than one in four of our buyers is international, and that share continues to grow. Tbilisi reminds me of Dubai at the moment it was becoming a truly global destination. The arrival of Trump Tower is a powerful signal of international confidence in Georgia and an important new chapter in the country’s development,” Ilia Tsulaia, Co-Founder and Chairman of the Board of Archi Group added.
“Tbilisi is a city of the future, and the energy surrounding this launch underscored just how much international interest there is in what is happening here. Trump Tower Tbilisi brings together global design, the legacy of the Trump brand and deep local market expertise. It is an extraordinary combination and reflects our confidence in Georgia’s continued growth. We were thrilled to unveil Trump Tower Tbilisi before such a distinguished international audience,” said Alex Sapir, Chairman and CEO of The Sapir Organization. “This is a transformative project – one with the scale, architecture and ambition to redefine Tbilisi’s skyline and establish a new benchmark for high-end residential development in the region,” Levan Pkhakadze, Founder and CEO of INVIA further explained.
The retail component of the podium takes design cues from Miami’s Bal Harbour Shops, blending luxury retail and dining with outdoor access to the adjacent park. The launch event itself featured performances by Grammy-winning artist CeeLo Green and DJ and producer Francis Mercier.
Georgia has recorded average annual real economic growth of roughly 9 percent over the past four years, according to the developers, and its free-trade agreements give it access to markets covering approximately 2.3 billion consumers. Downtown Tbilisi is expected to break ground as Trump Tower rises first among the six planned towers.
