PM accuses ‘informal power’ of coordinating opposition to $6.5 billion Eagle Hills investment

Prime Minister Irakli Kobakhidze has claimed an “informal power” coordinating several political parties was attempting to derail the UAE Eagle Hills development project, which envisions a $6.5 billion investment in Georgia. 

Speaking at a briefing at the Government Administration on Wednesday, the PM claimed this group was “concerned” about the scale of incoming foreign investment.

According to Kobakhidze, the Eagle Hills project was a fully commercial agreement that would significantly contribute to Georgia’s economic growth.

“All key aspects of the agreement are known. A joint company is being established, with the state holding 33.3%. The company does not have the right to sell the land, which will be under its ownership. The land itself has no autonomous function - it is non-agricultural and will be tied to specific buildings constructed on the site,” he said.

Kobakhidze dismissed rumors circulating about the project, including claims about religious buildings, calling them “speculation.”

“There is nothing in the agreement about building mosques or any such details. Everything else being spread is pure speculation. The development plan will go through municipal councils, and all details will be public.”

The Prime Minister alleged that a coordinated political campaign was being run by what he described as an “informal power” controlling various political groups.

“This informal force is worried that $6.5 billion is about to enter Georgia. We have already surpassed Moldova by $12.5 billion, and such a project will further widen that gap and strengthen our economy. This is what worries that informal power, which runs this foreign agent network in Georgia,” Kobakhidze claimed. 

He named United National Movement, Lelo, Alt-Info, and Alliance of Patriots as political parties allegedly acting “from the same hand” to oppose the strategic investment project.