Tbilisi unveils $2 billion complex featuring Trump Tower — Jerusalem Post
In Tbilisi, Georgia, on September 15, the Trump Tower Tbilisi project was presented — the first luxury Trump-branded tower in the Caucasus. Georgian Prime Minister Irakli Kobakhidze attended the event. According to the Jerusalem Post, total investment in the complex will amount to approximately $2 billion.
About 1,000 guests were invited to the presentation, and the event itself took place under heightened security measures. The publication estimates its cost at $1 million. The program concluded with fireworks and a drone show over Tbilisi.
Complex parameters
The complex, with an area of about 600,000 square meters, is set to include six towers. The central building will be Trump Tower, approximately 280 meters high and 65 stories tall. The project also includes luxury hotels, branded towers, a business center and retail space.
The opening of Trump Tower is planned for 2031, while completion of the entire district is scheduled for 2033. Kobakhidze stated that the complex is expected to create thousands of jobs and support the construction, tourism and service sectors.
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Participants and ownership model
Trump Organization, the Georgian developer Archi Group and other partners are working on the project. The main developers of the Downtown Tbilisi complex are Archi and Invia, while Trump Tower is being developed in cooperation with Trump Organization. The American architectural company Gensler is also involved in the project.
At the same time, Trump Tower Tbilisi is not owned by Donald Trump or Trump Organization. According to a legal disclaimer on the project’s official website, Central Park Icon LLC is listed as the owner and developer, while DT Marks Tbilisi LLC licensed the TRUMP name for it.
Trump Organization Executive Vice President Eric Trump was expected to attend the presentation, but was not present in person for security reasons. He joined the event via video link.
International buyers
Archi co-founder Meni Benish said that apartment prices in the project will be about $7,000 per square meter. In his assessment, the main demand is expected from investors from the United Arab Emirates, Poland, the United States and Israel, while the share of local buyers will be small. He also noted that Israelis may account for 10–15% of buyers.
