HOLM Developments has announced its entry into the Georgian market following the signing of an international investment and development agreement with Ambassadori Island Batumi.
Gocha Kamkia, CEO of Ambassadori Island Batumi Sergey Avayan, CEO of HOLM Developments
The agreement represents an investment of more than US$250 million and will see HOLM develop a 140,000 sqm multifunctional complex within Ambassadori Island, marking the company’s first major international expansion.
The agreement was signed by Sergey Avayan, CEO of HOLM Developments, and Gocha Kamkia, CEO of Ambassadori Island Batumi.
“This marks an important new chapter for HOLM. Georgia offers strong potential, and Ambassadori Island gives us the opportunity to bring our experience and development standards to a unique waterfront destination while building a long-term presence in the region.” — Sergey Avayan, CEO, HOLM Developments
HOLM introduced its development to the Georgian market on August 28, 2026, during a launch attended by business leaders, international media, brokers and invited guests from Georgia and the UAE.
The launch presented One Peninsula, HOLM’s signature residential development within Ambassadori Island. The project forms part of a wider waterfront masterplan bringing together residential, hospitality, retail, leisure and cultural destinations.
HOLM’s presence at Ambassadori Island extends beyond a single development, with the company securing a strategic position within the wider masterplan and establishing the foundation for its long-term presence in the region.
The move represents a new stage in HOLM’s growth, expanding the company’s development platform beyond Dubai while applying its experience and standards to a new international waterfront destination.