“Ambassadori Island Batumi” - one of the largest and most strategically significant project in the Black Sea region has entered a new phase of development. By decision of the Government of Georgia, the company has officially been granted ownership of the 28-hectare land area it created in the Black Sea aquatory in accordance with its investment obligations.

It is important to note that the privatization process applies specifically to the land territory created by the company itself within the Black Sea aquatory. To date, a total of 48 hectares of land has already been created and commissioned within the “Ambassadori Island” project area, of which 28 hectares have now been transferred to the company’s ownership in accordance with applicable legislation. This decision marks another important milestone in the project’s development and once again highlights the effective cooperation between the state and the private sector in implementing large-scale investment projects.

The rapid pace of the project’s development has already made it one of the largest hubs for mobilizing both local and international capital in Georgia. At this stage, more than USD 600 million in investments is being carried out by four Georgian companies across various developments within the project. Construction and engineering works are actively underway throughout the island territory.

“Granting ownership rights over the territory created by the company itself is a logical continuation of the project’s development. This decision significantly strengthens the project’s investment attractiveness and sends a clear signal to both local and international partners that Georgia is ready to support large-scale, long-term development projects,” stated the CEO of Ambassadori Island Batumi.

Once fully completed, “Ambassadori Island Batumi” is expected to generate significant fiscal and investment benefits for the country’s economy. According to estimates, the project will contribute approximately USD 65 million annually in tax revenues to the state budget. International studies also indicate that up to 20,000 jobs will be created as part of the project’s implementation.

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