(Updated:  1 day ago)• 2 min read

An investment agreement has been officially signed between Ambassadori Island Batumi and HOLM Developments, one of Dubai’s fastest-growing real estate development companies. Gocha Kamkia, CEO of Ambassadori Island Batumi, and Sergey Avayan, CEO of HOLM Developments signed the agreement.

Under the terms of the agreement, HOLM Developments will construct a world-class multifunctional complex spanning 140,000 square meters on Ambassadori Island. The entry of the UAE-based developer is a direct result of the institutional readiness and secure investment environment established by Ambassadori Island Batumi. The integrated investment packages structured within the project provide international investors with complete assurances for efficient, transparent, and secure capital deployment. In doing so, Ambassadori Island reaffirms its position as a robust international economic hub for attracting Foreign Direct Investment (FDI).

‘Georgia represents an extraordinary growth market, and this prime waterfront location offers an exceptional setting for our international expansion. As Georgia’s first true master-planned community on a unique artificial island, Ambassadori Island delivers the institutional standards and urban excellence we are accustomed to in the UAE. Beyond its visionary concept, the project provides unmatched investment fundamentals - driven by strong capital appreciation and high rental yields. We are thrilled to bring our development expertise to this world-class destination’, stated Sergey Avayan, CEO of HOLM Developments.

‘HOLM Developments’ plan to develop a multifunctional complex across 140,000 square metres as part of the island’s masterplan, backed by an investment exceeding $250 million and their long-term vision, demonstrates that the platform we have created in the Black Sea basin commands the highest level of trust and appeal among foreign investors’, noted Gocha Kamkia, CEO of Ambassadori Island Batumi.

HOLM Developments holds a distinguished reputation in Dubai’s real estate sector. Operating on a fully equity-funded business model, the company maintains over AED 1.1 billion ($230 million) in land and construction guarantees. HOLM Developments’ portfolio features several standout projects, including HOLM One, where over 50% of units were reserved on launch day, with the project selling out completely within 10 days, and LINEA by HOLM, which sold out on its release date.

The official launch presentation for the planned multifunctional complex will take place on 28 August. The event will be attended by business leaders alongside invited international media representatives and prominent figures from Dubai. Guests will experience the scale of the project firsthand and share insights with their global audiences regarding the investment and tourism potential of Ambassadori Island, Batumi, and Georgia.

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Paid for by: Ambassadori Development