The announcement that American real estate mogul Donald Trump intends to build in Tbilisi has many Georgians hoping that the country’s foreign-investment woes are over.
On September 22, Trump signed a letter of intent with the Silk Road Group, a multinational development company founded by Georgians, covering the construction of a residential building in Tbilisi.
In a phone interview with EurasiaNet.org, Trump’s special counsel, Michael Cohen, would not disclose the amount of the investment, the nature of the financing or the size of the planned building. He did, however, “personally congratulate” President Mikheil Saakashvili and The Silk Road Group for choosing Trump as a business partner. “[I]f Michael Jackson is the king of pop, [Trump] is the king of real estate,” said Cohen, an executive vice-president at the Trump Organization.
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Molly Corso is a freelance reporter based in Tbilisi.