A $2 billion Tbilisi project asks three to five times the local price
The Real Deal reports that Archi Group, Georgia's largest developer with roughly 18% of the market, expects studios in its Trump-branded 62-storey Tbilisi tower to sell at about $290,000, or $650 to $1,000 per square foot. The same report puts most new Tbilisi condos under $200 per square foot. The tower anchors a six-building, $2 billion development designed by Gensler. For anyone already holding Tbilisi property, the number that matters is not the brand but whether a price gap that wide can be sustained.
The two numbers to hold side by side
Archi Group's chief executive Ilia Tsulaia told The Real Deal that studios in the tower are expected to fetch roughly $290,000, which the report translates into $650 to $1,000 per square foot. The same report says new condominiums in Tbilisi generally trade below $200 per square foot. For context the article cites a median of about $820 per square foot in Downtown Dubai and about $1,575 in Manhattan. So the asking range is not pitched at the Tbilisi market at all; it is pitched somewhere between Dubai and New York, in a city whose own new-build average sits a long way below both.
What the project actually is
The tower is 62 storeys and is the anchor of a six-tower complex designed by the architecture firm Gensler, with a reported total value of $2 billion. The Trump Organization's role is branding, not development; Archi Group and its partners are building it. The land in central Tbilisi was agreed in 2023 for a purchase price of up to $85 million from a foundation controlled by members of Bidzina Ivanishvili's family, and a spokesperson told the publication all payments had been completed by July 2026. The United States sanctioned Ivanishvili in 2024, which is part of why the transaction is being reported at all.
Who is expected to buy
The report says roughly 80% of buyers in Archi's other branded projects, a Swissotel in Kobuleti and a Le Meridien in Sioni, come from outside Georgia. It also cites Galt and Taggart data putting Israeli buyers at 12% of apartment purchases in major developers' Tbilisi projects in 2025. That is the honest frame for a price of this kind: it depends on demand that is not local, in a market where local new-build pricing is a fraction of the asking figure. If overseas demand softens, there is no domestic buyer pool at that level to fall back on.
What it means if you already own here
A single tower priced far above the market does not lift the market. What it can do is change what buyers expect of a central Tbilisi address, and set a reference point that nearby developers will cite. The article is also clear that Georgia is not an established financial hub and that its EU accession process has stalled, and it notes that earlier Trump-branded schemes in Batumi and in Azerbaijan were cancelled or never finished. Owners weighing whether to sell or hold should read this as a signal about who is marketing to foreign buyers, not as evidence that values have moved.
Written by us from the source linked above, not investment, legal or tax advice. Figures and rules change — confirm anything that matters before acting on it.
