Dubai real estate firm HOLM Developments has entered the Georgian market after signing an international investment and development agreement with Ambassadori Island Batumi.

Under the contract, HOLM Developments will build a multifunctional complex covering 140,000 square metres on the artificial island. The overall investment for the project will exceed $250 million. The agreement was formally signed by Gocha Kamkia, CEO of Ambassadori Island Batumi, and Sergey Avayan, CEO of HOLM Developments.

The developer’s expansion into Georgia stems from the institutional readiness and secure investment setup established at the site. The structured investment packages created for the artificial island aim to offer foreign investors complete transparency, safety and efficiency when deploying capital. Consequently, the project continues to strengthen its status as an international economic hub capable of attracting foreign direct investment into the Black Sea region.

“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 meters 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.

An official launch presentation for the new complex takes place on August 28. The event gathers business executives, international journalists and prominent figures from Dubai to review the project’s scale alongside the tourism and investment potential of Batumi.

HOLM Developments operates on a fully equity-funded model in Dubai, maintaining over AED 1.1 billion in land and construction guarantees. Previous projects include HOLM One, which sold out within 10 days of launch, and LINEA by HOLM, which sold out on its release date.