The Trump Organization, led by Eric and Donald Trump Jr., is partnering on a new 70-story Trump Tower in Tbilisi, Georgia. This mixed-use project, featuring luxury residences, retail, and hotel amenities, is slated to be the tallest building in the capital. Eric Trump announced the project on X, expressing excitement for their first venture in the region, which is expected to bring the company's "globally recognized standard of excellence" to Georgia.
However, the project faces significant controversy and criticism. One of the Georgian partners, Archi Group, has alleged ties to Bidzina Ivanishvili, a billionaire oligarch and founder of Georgia's ruling Georgian Dream party, who has been sanctioned by the U.S. for his connections to the Putin regime. Critics argue that the project is a cynical attempt by Georgian Dream officials to gain favor with the U.S. president amidst concerns over their authoritarian practices and pro-Russian stance.
Another Georgian partner, Biograpi Living, is partly owned by the Pkhakadze family and Riverside Invest, the latter of which is controlled by Paata Gamgoneishvili, an individual with alleged ties to Russia. The Sapir Organization, the U.S.-based partner, was founded by Tamir Sapir, a late associate of Trump who faced an FBI probe for alleged money-laundering and links to Russian organized crime. The project is seen by some as another example of potential conflicts of interest for the Trump family firm, especially given the Trump family's wealth increase of $5 billion since Trump's second term began.
The tower is planned for Tbilisi’s central Saburtalo district on land reportedly owned by the Cartu Foundation, which belongs to Ivanishvili. The project is being designed by the architecture firm Gensler. Despite the Trump Organization's announcement that the president's assets would be held in a trust managed by his children to avoid day-to-day involvement, critics like former National Bank head Roman Gotsiridze suggest the project is politically motivated, calling it Ivanishvili's attempt to influence Trump. The Georgian government, however, views it as a vote of confidence in the country's economy.
