A 70-story multifunctional tower under the Trump Tower brand is planned to be built in the capital of Georgia with the participation of the Trump Organization and local partners. This is reported by The Wall Street Journal, writes UNN.
Details
This refers to the Trump Tower Tbilisi project, which could become the tallest building in the city. The complex will include premium residential residences, retail space, and hotel infrastructure.
The project is being developed by the architectural firm Gensler. The consortium includes the Georgian development company Archi Group and Biograpi Living, which is part of a local conglomerate. The New York-based Sapir Organization, which previously collaborated with the Trump family, is also participating.
Change in business strategy
According to the WSJ, after Donald Trump's second presidential term began, his family company has been more actively using international licensing and branding agreements as a key business direction. Critics point to possible conflicts of interest due to such projects.
Eric Trump, the company's executive vice president, previously stated that the Trump Organization's business is separate from government policy. In the project's press release, he noted that the new tower is intended to extend the company's "globally recognized standard of excellence" to Georgia.
Context and previous projects
This is not the company's first attempt to operate in the Georgian market. In 2012, the Trump Organization announced construction in Batumi, but abandoned the project amid an intention to avoid a potential conflict of interest.
After Trump's re-election, the company resumed active expansion into international markets, particularly in the Middle East, Vietnam, and India.
Georgia, for its part, is trying to attract foreign investment through business-oriented tax policies and the development of the tourism sector.
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