We have a logical expectation that the percentage of Georgian buyers in the Eagle Hills project will be the same as what we have in other projects as a standard - I think this figure will be close to 80%, - Georgian Prime Minister Irakli Kobakhidze stated at the plenary session of the Parliament, where he was answering questions from deputies by interpellation.
According to the head of government, in this case the expectations of the Georgian government differ from the expectations of the founder of Eagle Hills, who assumes that approximately 60% of the apartments will be sold to international clients.
“Approximately 16,000 apartments will be built separately in both areas. The founder of Eagle Hills stated that he expects about 60% of sales to international clients. This statement is based on the practice of this company and the fact that this company has a well-established marketing network worldwide. He presented this as an additional economic effect - the more foreign buyers, the greater the contribution to the economy from outside. However, our expectations are a little different. Today in Georgia there is such a statistic - when apartments are built, about 80% are bought by Georgian citizens and 20% are bought by foreign citizens. We think that the indicator of this project will be about the same, close to the 80% indicator. This is our general, logical conclusion. The opponents speculate and say that the price of the apartment will be too high and, accordingly, our citizens will not have the opportunity to purchase apartments in this project. This also shows that this is a coordinated campaign. They are claiming that an apartment in these areas, in Gonio and Krtsanisi, will cost 12,000, which is not based on anything. They came up with 12,000 dollars and representatives of different parties are saying the same thing in a coordinated manner - "Lelo", "Alt Info", "National Movement" and all these parties are saying the same thing. Let us recall once again that mathematics is not the strong point of these people. They are not strong in humanitarian subjects either, although it seems that they have a weakness in mathematics. To put it simply, 16,000 apartments, if we take an average of 100 square meters, it turns out 1,600,000 square meters of saleable space. If the company were to sell all this for $12,000, it turns out that the company's income from the apartments alone would be $19.2 billion. We are talking about a colossal profit. In this case, the state would receive not 2 billion GEL from the project as profit, but about $4 billion. You can judge for yourself how far our opponents, starting from "Lelo", ending with "Alt Info" and continuing with "National Movement", are off the mark in their mathematics. The price of the apartment will be much less. I do not want to name specific figures so as not to infringe on the commercial competence of the Eagle Hills company, although you can judge for yourself that the price of the apartment will be several times lower than the stated price. Therefore, we have a logical expectation that the percentage of Georgian buyers in this project will be the same as we have in other projects as a standard. I think this figure will be close to 80%. Let's wait for the sales statistics,” the Prime Minister said.
The Prime Minister explained what the direct and indirect benefits of the country from the Eagle Hills project are.
“First of all, let us recall once again that approximately 16,000 apartments will be built, the total area will be approximately 1.6 million sq.m. Direct housing space, of which approximately 7,000 apartments and houses will be built in Tbilisi and 9,000 in Gonio. Also, hotels with more than 1,400 hotel rooms will be built and approximately 700 million dollars will be spent in this area. You can imagine how much tourism effect such a large investment will have on the development of tourism.
The total effect on the Georgian economy will be approximately 11 billion GEL, which is a very large indicator. I would like to remind you that this year, for the first time in history, our gross domestic product, our economy, will exceed 100 billion GEL. Imagine that we are talking about approximately 10% of this, which only one specific investment project will bring to Georgia. We are talking about the colossal economic profit that our state will receive from this project," the Prime Minister said.