“Ambassadori Island Batumi” Hosted Symbolic Foundation Capsule Ceremony for Landmark "First Tower"
A historic milestone was marked at “Ambassadori Island Batumi” with the symbolic foundation capsule-laying ceremony for the project’s inaugural structure, the "First Tower." The ceremony was attended by the Prime Minister of Georgia, alongside members of the Cabinet and the leadership of the Autonomous Republic of Adjara.
The total investment for this multifunctional complex is set at $200 million USD.
It is noteworthy that 22 hectares of land on the right peninsula have been officially commissioned. Currently, a total of 48 hectares of reclaimed land within the project area have been brought into operation.
The island project is being implemented by "Ambassador Group" in collaboration with various international companies, including the architectural and engineering company Yüksel Proje and the British company Arup, which is involved in urban planning projects worldwide. In partnership with Arup, a comprehensive Smart City vision is being established, designed to evolve this landmark artificial island into the most technologically advanced urban space in the region.
As the first standing structure on the reclaimed land, the “First Tower” holds profound historical significance. This multifunctional complex is designed to be a self-contained ecosystem, featuring: premium residential apartments and a world-class hotel, a private helipad, expansive wellness spaces, including indoor and outdoor pools and fitness centers, high-end entertainment zones and designer boutique stores.
The interior design of the tower’s luxury apartments is the work of the renowned Italian studio D73, ensuring a fusion of European elegance with the island’s unique coastal identity. Its strategic location directly links it to the yacht club and the newly developed island boulevard, positioning it as the primary destination and "point of attraction" for the entire development.
The realization of the “Ambassadori Island” project is of strategic economic importance for Georgia. Once fully operational, the project is projected to contribute $65 million USD in annual tax revenue to the country budget. The implementation of the project will create up to 20,000 new jobs in the country. This economic scale places the development on par with global infrastructure projects, such as the Baku-Tbilisi-Ceyhan (BTC) pipeline. The rapid pace of the current land works, reaching the 50% milestone, underscores the efficiency and scale of this visionary initiative.
The formation of the central artificial island and two peninsulas is progressing ahead of schedule. To date, more than 50% of the land reclamation works are already complete. Upon completion, “Ambassadori Island Batumi” will span a total of 84 hectares, with 49% of the territory dedicated to premium recreational zones.
"Ambassadori Island Batumi" is designed in full compliance with the principles of sustainable development and smart city planning. The project has both tourism and economic significance, positioning Batumi and Georgia as a whole on the global investment map.
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Global Tech Weekend Opens Applications for Startups and Investors to Pitch Ideas on the Ferris Wheel on December 5
30.10.2026.19:36
Global Tech Weekend will host the official launch event on December 5 at Mtatsminda Hall. Applications are now officially open for the “Pitch in a Ferris Wheel” session, where startups will present their ideas to international investors inside the cabins of the Mtatsminda Ferris Wheel. Applications are open to both startups and investors.
6 Minutes. One Rotation. One Chance.
For the first time in history, the Mtatsminda Ferris Wheel will be dedicated entirely to startups and investors. Each founder will have one full rotation of the wheel, six minutes, to pitch their startup. Only the founder and investors will be inside the cabin, with no stage or audience.
All pitches will be livestreamed, and the winning startup will be announced at the awards ceremony later that evening. The format aims to connect startups with international investors and create opportunities for long-term results.
A New Opportunity for Startups and Investors
Global Tech Weekend invites startups looking to secure international investment and expand globally. Selected founders will have the opportunity to meet face-to-face with international investors from Global Tech Weekend’s global network and deliver a six-minute pitch inside a Ferris Wheel cabin.
The experience also offers investors an opportunity to discover new ideas beyond the traditional business meeting setting, inside a Ferris Wheel cabin. The format is designed for venture capital funds, angel investors, and corporate investors seeking access to emerging markets and early-stage opportunities.
“The tech ecosystem has many promising startups whose growth depends, in part, on meeting the right investors, securing funding, and expanding internationally. ‘Pitch in a Ferris Wheel’ experience is designed to facilitate these connections: six minutes, one rotation, and a direct conversation between a founder and an investor. We invite startups and investors to become part of this unique experience,” says Medea Janjghava, CEO of Global Tech Weekend.
How to Apply
Applications are now open. All interested startups and investors are invited to complete the relevant application form.
Global Tech Weekend 2027 Official Launch Event
The official launch event of Global Tech Weekend 2027 will take place on December 5 at Mtatsminda Hall. One of the event’s main highlights will be the pitch inside Mtatsminda Ferris Wheel. The program will also feature the official presentation of Global Tech Weekend 2027, announcements of next year’s plans and dates, new strategic partnerships, exclusive networking, meetings with international guests, and a music program.
The organizers will present the key initiatives, concept, and international expansion plans for 2027. The event will be held in a closed format, with attendance available by prior registration only through Global Tech Weekend’s official Luma page.
Registration: See link
About Global Tech Weekend
Global Tech Weekend is the decentralized tech movement. In 2026, the movement expanded across San Francisco, Tashkent, and Tbilisi. Global Tech Weekend Tbilisi 2026 brought together more than 10,000 attendees, 250 speakers, 300 investors, 150 partners, and representatives from more than 12 sectors.
Website: https://gtwt.ge/
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