During his visit to Georgia, the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, met with Bidzina Ivanishvili and Irakli Kobakhidze. The ruling party announced that Georgia expects a USD 6 billion investment from the Emirates.
Mariam Kvrivishvili and Eagle Hills Group founder Mohamed Alabbar exchanged agreements following the expanded meeting, outlining two large-scale investment projects worth USD 6 billion in Georgia.
A memorandum of cooperation between the two countries was signed in January 2025. Whilst no final decisions have been made at the official level, the Arabian Gulf Business Insight (AGBI) reported that residential and commercial spaces are planned across 590 hectares in Tbilisi based on the Krtsanisi Park project whereas in Gonio, hotels, parks, and residences will be developed over 260 hectares. The investment was initially estimated at USD 5.7 billion according to the source.
In an interview with TV Imedi, Levan Davitashvili stated that construction is expected to begin in 2026 with a projected timeline of three to five years.
When, how, in what form and to what extent the announced projects will be implemented remain uncertain. The pledged USD 6 billion far exceeds the total volume of investments from the Emirates to date – USD 1.2 billion – by nearly fivefold.
The UAE ranked 13th in Georgia in 2024 with USD 36 million in foreign direct investment. However, it holds the seventh position overall due to cumulative inflows of USD 1.2 billion between 1996 and 2024.
Graph 1: Foreign Direct Investment, 1996-2024 (USD Million)
Source: National Statistics Office of Georgia
Investment inflows from the United Arab Emirates practically began in 2007 (cumulative investments from 1996 to 2006 amounted to less than USD 1 million). Inflows reached USD 120 million in 2007 and in 2008 they climbed to USD 307 million, making the UAE Georgia’s top investor that year. The Emirates retained the leading position in 2009 with USD 163 million. During the Georgian Dream’s governance, UAE investment reached a record volume of USD 147 million in 2017. Annual inflows from Abu Dhabi have not exceeded USD 42 million since then. Although investments reached USD 44 million in the first half of 2025, figures from just two quarters are not sufficient to confirm a trend reversal.
Graph 2: Foreign Direct Investment from the United Arab Emirates (USD Million)
Source: National Statistics Office of Georgia
Information on which countries invested in which sectors has been available on the Foreign Direct Investment portal since 2016. The largest share of UAE investment – over USD 57 million – went into hotels and restaurants, more than USD 5 million was directed to trade and nearly USD 10 million flowed into real estate that year. The UAE invested the most – USD 50 million – in professional and scientific activities, followed by USD 42 million in real estate, USD 25 million in hotels and restaurants, USD 12 million in construction and USD 6 million in trade in 2017.
Whilst investment volumes from the Emirates dropped sharply in the subsequent years, the sectors of interest largely remained the same. A total of USD 28 million was invested in hotels and restaurants, USD 16 million in transport, USD 13 million in finance, USD 4 million in trade and USD 7 million in real estate in 2024.
The most notable UAE investment in Georgia is the Biltmore Hotel which cost USD 140 million to build and opened in 2016. The Sheraton Grant Tbilisi Metechi Palace is also currently owned by the Emirati Ras Al Khaimah Investment Authority.
Trade between two countries has developed more steadily in recent years with a large share of turnover coming from mobile phone imports.
Georgia exported USD 42 million worth of goods to the UAE as of 2024 whilst imports from the Emirates exceeded imports eightfold, reaching USD 335 million.
Graph 3: Foreign Trade Turnover with the United Arab Emirates (USD Million)
Source: National Statistics Office of Georgia
Imports have doubled, whilst exports have fallen by one-third, as compared to the pre-pandemic period.
Light vehicles lead with USD 9 million, followed by aircraft at USD 5 million and tractors and trucks at USD 4 million, amongst exports. Re-exports account for USD 26 million of the USD 42 million in total exports.
Half – USD 166 million – of imports consists of mobile phones. Imports of mobile phones from the UAE exceed by ten times the value of light vehicles which rank second and 12 times that of computers, which ranks third. Other top imported items include tobacco products, petroleum products and metal constructions.
Mobile phones consistently ranked first amongst imports from the UAE between 2013 and 2024, excluding 2015 – at times accounting for over 50% of the total.
The UAE is not a manufacturer of these devices as the mobile phones imported into Georgia are primarily assembled in Vietnam and China.
In terms of trade rankings, the UAE held the 20th position in exports with a 0.6% share, 9th in imports with a 2% share and 14th overall with a 1.6% share of total turnover.
Graph 4: Foreign Trade Turnover in 2024 (USD Million)
Source: National Statistics Office of Georgia
The UAE accounted for 0.6% of remittances to Georgia in 2024 (USD 21 million out of USD 3.4 billion). Although visitor numbers were even lower at 0.2% (15,000 out of 6.5 million), Emirati tourists were amongst the highest spenders, averaging GEL 3,940 per visit.
The UAE proved more popular for Georgian citizens, ranking fourth with a 4% share after Turkey, Russia and Armenia.
The UAE is not only attractive to Georgians. It was visited by 28 million people in 2023, placing it 12th globally, whilst tourism revenue of USD 52 billion ranked sixth. The Burj Khalifa in Dubai, standing at 828 meters tall, has held the record for the world’s tallest building for 15 years.
The UAE is one of the few oil-rich countries that has diversified its economy, no longer relying on commodity prices solely. Key sectors now include tourism, aviation and logistics. Dubai is building an airport worth USD 35 billion with five runways and a projected annual capacity of 260 million passengers. For comparison, the busiest airport in 2024 – Atlanta in Georgia, USA – handled 108 million passengers. The UAE’s GDP per capita reaches USD 78,000, ranking 15th globally in terms of purchasing power parity (excluding small island and non-sovereign territories such as the Cayman Islands, Bermuda and the Faroe Islands).
The countries hold visa-free travel and a free trade agreement. A significant increase in investment is theoretically feasible and political interest is evident given the UAE’s economic potential. However, whether new investments will actually materialise and in what volume or timeframe cannot be determined in advance.
