Why a Dubai brokerage is listing a tower in Georgia
Cresco Real Estate holds exclusive United States representation for The First Tower at Ambassadori Island Batumi. We are publishing it here because a large share of our Dubai client base is already looking for a second market, and Batumi answers a specific question Dubai cannot: where do you get sea frontage, a real payment plan and freehold ownership at under 150,000 dollars.
This page is for the investor who already owns in Dubai and wants to understand how Batumi actually compares. Every figure below comes from Ambassadori’s own documents.
The First Tower, published specifications
| Developer | Ambassadori Group, Georgia, operating since 2004 |
| Location | Ambassadori Island, Batumi, Adjara, Georgia |
| Apartments | 1,358 including 8 duplexes |
| Floors | 58 |
| Height | 216 metres |
| Parking | 3 levels, 240 cars indoor |
| Unit types | Studio, 1 bedroom, 2 bedroom, duplex |
| Ceiling height | 3 metres |
| Structure | Monolithic concrete on pile foundation |
| Interiors | Studio D73, Italy |
| Handover | February 2029 |
| Permits | All received, construction underway |
How Batumi compares to Dubai on the numbers that matter
This is the comparison our Dubai clients actually ask for, and it is not a case for moving money out of Dubai. It is a case for understanding what a different entry point buys you.
| Measure | The First Tower, Batumi | Comparable Dubai off plan |
|---|---|---|
| Entry price | From USD 108,603 for a 37.1 sqm studio | Rarely below AED 900,000 for a studio in a waterfront tower |
| Price per sqm | USD 2,927 to 3,253 | Typically AED 15,000 plus per sqm on the water |
| Payment during construction | 20 percent down, balance over 48 months at zero interest | Commonly 60 to 80 percent across construction |
| Plan runs past handover | Yes, to July 2030 against a February 2029 handover | Rare, most plans close at handover |
| Foreign ownership | 100 percent, no designated zones | 100 percent, but only inside designated freehold areas |
| Annual property tax | 0 percent | 0 percent |
| Rental income tax | 5 percent | 0 percent |
| Transfer cost | Public Registry fee, nominal | 4 percent DLD transfer fee |
| Furnishing | Turnkey with built in furniture and fitted kitchen included | Usually shell and core or partly fitted |
Dubai figures are general market context for comparison, not quotes on any specific unit. The Batumi figures are from Ambassadori’s July 2026 price list.
The payment plan, in detail
Take unit 417, a 37.10 sqm studio on floor 4, from the developer’s sample offer.
- Full payment: 10 percent discount, USD 2,927 per sqm, total USD 108,603
- 30 percent down over 36 months: 4 percent discount
- 30 percent down over 48 months: 1 percent discount
- 20 percent down over 48 months: no discount, USD 3,253 per sqm, total USD 120,670
On the 20 percent plan the reservation is USD 2,000 and the down payment is USD 22,134. The balance runs across 48 instalments at zero interest, stepped rather than flat: about USD 2,011 monthly in year one, USD 2,514 in years two and three, then USD 1,006 in year four.
Note the timing. The plan runs to July 2030 and the building hands over in February 2029. You hold the asset for roughly 17 months while still paying. For a rental strategy that is genuinely useful because the unit can be earning before the plan closes. Just do not assume payments stop at handover.
What you own and what it includes
| Type | Area | Outlook |
|---|---|---|
| Studio | 37.1 to 44.9 sqm | Sea and island |
| One bedroom | 53.4 to 72.5 sqm | Sea, island and mountains |
| Two bedroom | 108.4 to 109.1 sqm | Sea, island and mountains |
Delivered with premium turnkey finishing, built in furniture and a fully equipped kitchen, plus central heating, ventilation, fire safety and high speed internet to the apartment. Building maintenance runs to Ambassadori Hotels standards. Optional upgrades are a smart home system, heated floors and a full D73 furnishing package in three versions.
For a remote owner the turnkey delivery is the quiet advantage. It removes a fit out you would otherwise be running from Dubai.
The developer and the design team
Ambassadori Group has been building and operating in Georgia since 2004. The record is independently checkable, which is why we list it rather than describe it.
| 2004 | Hotel Ambassadori Tbilisi, five star, 8.9 on Booking.com |
| 2007 | Ambassadori Kachreti Golf Resort, Georgia’s first golf resort, 9.0 |
| 2018 | Stefano Ricci luxury fashion franchise |
| 2021 | Hotel Ambassadori Goderdzi ski resort, five star, 9.3 |
| 2022 | Keburia Winery |
| 2024 | Ambassadori Academy |
The island team is the part that should interest anyone who has watched reclamation projects in the Gulf. ARUP produced the masterplan concept design. SHoP Architects of New York, the firm behind Steinway Tower on West 57th Street, designed The Gate twin towers. Yuksel Proje, the Turkish engineering firm that delivered Ordu Giresun Airport, the first airport in Europe built on the sea, contributed the marine engineering and Black Sea hydrology work. Studio D73 of Italy did the interiors.
The Prime Minister of Georgia, Cabinet members and the leadership of the Autonomous Republic of Adjara attended the capsule laying ceremony for the tower’s foundation.
The island
The tower sits inside an 84 hectare masterplan. Published components include a 9 hectare central park, a private marina and yacht club, a 120,000 sqm mall by IG Development, a 10,000 sqm event hall, a 5,000 sqm casino, more than 50 cafes and restaurants, rooftop bars, and what the developer states is the first white sand beach in Georgia.
In the tower: fitness centre with panoramic views, rooftop swimming pool, bar and restaurant on the 57th floor, padel courts, workout zones, residents only playgrounds, and a retail gallery at the base.
The developer publishes four awards for the project: Best Luxury Urban Development 2026, Best Luxury Coastal Masterplan Development 2026, Hospitality Real Estate Project 2025 and Country’s Most Innovative Project 2025.
What we have left off this page
The project decks carry projected annual returns and capital growth forecasts running to 2032. None of those numbers appear here.
They are the developer’s projections built on assumed rental inflation and assumed location premiums years out. We are not putting a forecast return on a public page and letting it read as a Cresco promise. If you want the developer’s ROI model we will send it to you labelled as theirs, and we will tell you which assumptions we think hold and which we think are optimistic.
We hold the permits, the developer corporate file, layouts, construction progress reporting and the draft reservation and pre purchase contracts. Ask for any of it.
Honest risk notes
Three things a Dubai investor should weigh before treating this as a Dubai substitute.
Liquidity is thinner than Dubai. Batumi’s market is growing but it is a fraction of Dubai’s size. Exiting a unit will take longer than exiting a comparable Dubai property, and the buyer pool is smaller.
Currency and jurisdiction. Prices are set in USD but you are holding a Georgian asset under Georgian law. The dirham is pegged to the dollar, so your currency exposure is limited, but your legal recourse sits in a jurisdiction you probably have not dealt with before.
It is a 2029 handover on a reclaimed island. The engineering credentials are strong and permits are in place. It is still off plan, on reclaimed land, more than two years out. Price that in.
Frequently asked questions
What is the entry price at The First Tower Ambassadori Island Batumi?
USD 108,603 for a 37.10 sqm studio paying in full with the 10 percent discount, or USD 120,670 on the 20 percent down payment plan. July 2026 developer price list.
What is the payment plan?
Options are full payment with 10 percent off, 30 percent down over 36 months with 4 percent off, 30 percent down over 48 months with 1 percent off, or 20 percent down over 48 months at zero interest with no discount.
When is handover?
February 2029. All permits have been received and construction has started.
Can foreigners own property in Georgia?
Yes, 100 percent foreign ownership of residential property with no designated zones, no residency requirement and no local partner. Registration is through the Public Registry.
What taxes apply in Georgia?
0 percent annual property tax on residential property at this level and 5 percent on rental income under the small business regime. Your own country of tax residence may tax you separately. Take advice.
Is the apartment furnished?
Yes. Premium turnkey finishing with built in furniture and a fully equipped kitchen is included as standard.
Who do I buy through?
Cresco Real Estate holds exclusive United States representation for The First Tower. We can act for buyers from Dubai as well. Contact us for the live price list and unit availability.
Request the live price list
Cresco Real Estate LLC is a RERA registered brokerage in Dubai, ORN 34288. For The First Tower we will send you the current price list, available units with floor and outlook, the full payment schedule for the unit you want, and the developer’s document pack. Call 1-833-CRESCO-6 or send us your requirement. American buyers should go to our United States page for The First Tower.
Developer: Ambassadori Group
Type: Apartments, Duplexes, Studios
