An international journalistic investigation conducted by Transparency International Georgia has uncovered significant real estate holdings in Moscow linked to the family of Bidzina Ivanishvili, the honorary chair of Georgia’s ruling party, its founder and former Prime Minister, the organization said on Friday.
The discovery casted doubt on Ivanishvili’s long-standing claims of severing ties with Russia, a pledge he made in 2011, when he announced his political goals, leading to the defeat of the United National Movement Government in 2012 parliamentary elections.
The investigation revealed that the Ivanishvili family owned two luxurious residences in Moscow, located in the prestigious districts of Sokol and Odintsovo. These properties, together encompass over 52,000 square meters of land, include a private residence in Sokol and an expansive estate in Odintsovo. The combined market value of these holdings was estimated to exceed $14.7 million, with potential for much higher valuations, TI Georgia said.
The Odintsovo estate, situated in one of Moscow’s most exclusive suburban areas, represented the most substantial acquisition, the organization said.
The family began amassing property in this area in the late 1990s, continuing with purchases as recently as April 2024. The estate now spanned nine contiguous plots, totaling 52,677 square meters, and included multiple buildings, among them a private residence, three garages, and nine auxiliary structures. TI Georgia estimated the market value of the estate at no less than $11 million. It stressed part of the property was acquired from Ivanishvili’s cousin, Ucha Mamatsashvili, who had been previously linked to Russian businesses associated with Georgy Poltavchenko, a KGB general and close ally of Vladimir Putin.
In addition to the Odintsovo estate, the Ivanishvili family co-owned a 614.5 square meter residence on Savrasova Street in Moscow’s Sokol district. The property, located in the Village of Artists, one of Moscow’s most culturally significant and exclusive neighborhoods, was included in Ivanishvili’s 2013 asset declaration during his tenure as Prime Minister. The estimated value of the residence was approximately $3.8 million.
The investigation also revealed the Ivanishvili family had been generating income by renting out the Sokol residence to Russian director Andrei Pershin, earning $9,000 per month. The financial dealings associated with the rental, as well as other property-related activities, were managed through Aqua-Space LLC, a Russian company owned by Ivanishvili through an offshore entity. Both Aqua-Space LLC and Ivanishvili’s wife, Ekaterine Khvedelidze, hold accounts in Russian banks that are sanctioned by the United States and the European Union, TI Georgia said.
The findings, TI Georgia said, directly contradicted Ivanishvili’s 2011 promise to sever all business and personal ties with Russia, a commitment that had been repeatedly affirmed by leaders of Georgia’s ruling party.
The organization claimed the investigation had indicated that Ivanishvili’s family has not only maintained their Russian connections but also expanded their real estate holdings in Moscow.
