Plans have been announced to construct a “Trump Tower” in Tbilisi, the capital of Georgia. According to U.S. government records, the land designated for this project is partially owned by the son of a leader currently under U.S. sanctions.
This proposed skyscraper is a joint venture between a local consortium (an alliance of several firms) and the Trump Organization. Trump’s two sons, Donald Trump Jr. and Eric Trump, currently manage this family enterprise. The land selected for the building is currently registered under the ownership of the “International Charity Fund Cartu.”
According to official records, the sole owner of the Cartu Fund is Cartu Group JSC. Uta Ivanishvili holds a 35 percent stake in this entity. He is the eldest son of Bidzina Ivanishvili—a billionaire politician and the honorary chairman of Georgia’s ruling party.
Bidzina Ivanishvili is widely regarded as the “de facto leader” of the Georgian government. In 2024, the Biden administration imposed sanctions on him. This action was taken in response to allegations that he undermined Georgia’s democratic future in furtherance of Russian interests.
Uta Ivanishvili is not personally subject to sanctions. Until 2024, he held 100 percent ownership of the Cartu Group. However, following the imposition of U.S. sanctions on his father—Georgia’s wealthiest individual—he reduced his stake to 35 percent.
Nevertheless, the identities of the owners of the remaining 65 percent of Cartu Group shares could not be ascertained. Under applicable regulations, the names of shareholders holding less than a 5 percent stake may remain undisclosed.
This link between the Trump Organization and the Ivanishvili family has sparked a new controversy. Many observers view this initiative—to develop a residential and resort complex utilizing the U.S. President’s name—as a potential “conflict of interest.”
Prior to this, reports had also surfaced regarding similar agreements between the Trump Organization and various companies in Oman and Saudi Arabia. However, the White House has consistently maintained that the President and his family have never been—nor will they ever be—involved in any conflicts of interest.
Last April, the Trump Organization announced plans to construct a 70-story building in Tbilisi. In a press release, Eric Trump, the organization’s Executive Vice President, stated that they were proud to bring this world-class project to Georgia. He added that they were particularly pleased to be working alongside skilled developers on this venture.
Four local firms—Archi Group, Biography Living, Blox Group, and Finvest Georgia—are collaborating with the Trump Organization on this project. The U.S.-based Sapir Organization is also involved in the construction of what is set to be Georgia’s tallest building. However, neither this company nor its executives are currently subject to any sanctions.
Ilia Tsulaia, the founder of Archi Group, is a former Member of Parliament representing Georgia’s ruling party. Meanwhile, Biography Living is owned by the Pkhakadze brothers. However, none of these firms could be reached for comment.
The land in Tbilisi where the tower is to be built was formerly used as a horse-racing track during the Soviet era. It is currently owned by Cartu. However, an agreement was reached in 2023 to sell the land to a firm named Central Park Avenue LLC.
Temo Sikavadze, Bidzina Ivanishvili’s attorney, stated: “Bidzina Ivanishvili’s family owned a total of 511,000 square meters of land in that area. He has donated a significant portion of it to the state. He is currently developing a public park on that site at his own expense.”
Critics of Ivanishvili in Georgia contend that his actions were motivated by an attempt to curry favor with the U.S. President. Leaders of the ruling party, however, view this initiative as a reflection of Trump’s confidence in Georgia’s economy and governance. Shalva Papuashvili, Speaker of the Georgian Parliament, stated, “The fact that Trump’s organization has come here to conduct business implies that they have a positive assessment of the country’s environment.”
Sandro Kevkhishvili, Anti-Corruption Program Manager at Transparency International Georgia, remarked that the plan to construct a Trump Tower in Georgia is not merely a private business venture, but rather a political project. Pro-government factions are portraying this business initiative as a political victory.
Declining to comment on the matter, the White House has referred inquiries to the Trump Organization. However, no response has been received from the Trump Organization regarding this issue either.
