Infrastructure projects that change property prices in Georgia: what is real

Which infrastructure projects matter for property in Georgia?

Only the ones that get built, and only for the homes they actually serve. In October 2026 three large projects are finished and in use: the Rikoti pass highway on the main east-west road, opened in full on 30 December 2025; the 14 km Batumi bypass, open since October 2024; and the modernised railway over the Rikoti pass, which has cut the Tbilisi-Batumi train to about 4 hours. Several more have signed contracts and are being built, among them the Didi Dighomi-Didube tram in Tbilisi, the Batumi-Sarpi road, the Tbilisi airport expansion and the Kvesheti-Kobi road towards Gudauri. Others, such as the metro extensions, a third metro line and a new airport at Vaziani, are still plans without a construction contract.

This page sorts the main projects by their real stage, explains what research says about infrastructure and prices, recalls projects that were announced and never finished, and shows how to check a developer's claim that "a metro station is coming". District-level detail is on our pages on the best areas in Tbilisi and the best areas in Batumi.

Does a new station or road raise prices?

Often, but by less than sales brochures suggest, and not everywhere. The most cited review of the research, a 2007 meta-analysis by Debrezion, Pels and Rietveld in the Journal of Real Estate Finance and Economics, found that homes within a quarter of a mile (about 400 m) of a railway station sold on average for about 4.2% more than the rest of the market, and commercial property for about 16.4% more. For homes, the effect grew by about 2.3% for every 250 m closer to the station. The study also found that commuter rail stations had a larger effect than light rail or metro, and that the effect was smaller where good road access already existed.

A later meta-analysis by Mohammad, Graham, Melo and Anderson (2013), which pooled 102 estimates from 23 studies, warned that results vary widely with the type of rail, the use of the land, the distance, how mature the system is and how the study was done. It gave no single figure to rely on. We found no study measuring the effect of a metro station, road or tram on property prices in Georgia: Galt & Taggart, TBC Capital, ISET and the National Bank publish district price series, but none of them separates the effect of infrastructure from everything else.

What stage is each project at?

The order of the table is the order in which we would trust each project to affect prices. A road that is open changes travel times today; a signed contract with a lender behind it is likely to be built, though often late; a market survey or a speech is not yet a project.

Tbilisi: tram, metro, bypass and airport

• The tram. On 7 September 2026 the city signed a design-and-build contract worth about GEL 288 million with a Turkish consortium for a 7.5 km tram line with 11 stops from Didi Dighomi to Didube, where it meets the metro. The contract runs for 36 months, so the line is due around September 2029; the trams themselves will be bought in a separate tender. For Didi Dighomi, one of the city's largest areas of new blocks, it would be the first rail link to the centre.
• Metro extensions. The plan adds one station beyond each end of line 1, towards Gldani and towards Varketili, about 5.2 km in total. A first market survey in April 2025 failed and a second was announced in January 2026; we found no tender or contract by October 2026.
• A third line. Reports in September 2025 described an 8.5 km route linking Didube with Rustaveli via Saburtalo and Vake, with work to begin in 2026 and last seven years. No tender has been announced.
• The bypass. A road around the city from Avchala past the airport to Lochini and Rustavi is meant to take transit lorries out of Tbilisi. A USD 250 million ADB loan, signed in August 2026, covers the stretch between the airport and Rustavi; the tender for the 22.5 km Avchala-airport section, estimated at GEL 932 million, had eight bidders under evaluation in August 2026. The completion deadline is 31 December 2031.
• The airport. The operator, TAV Georgia, launched a USD 150 million expansion in July 2026 to double capacity from 5 to 10 million passengers a year by 2028, after a record 5.4 million in 2025. A separate plan for a new airport at Vaziani, first announced in 2023, has slipped to a start at the end of 2027.
• Streets and old buildings. Rustaveli Avenue is being rebuilt from July to the end of November 2026, with overhead cables moved underground, and a section of Aghmashenebeli Avenue was put out to tender in August 2026. In February 2026 City Hall launched a programme to buy dilapidated homes in heritage zones, with the consent of all owners, and prepare the land for investment.

Batumi and the coast

The Batumi bypass took transit lorries off the city streets in October 2024. The next step is the road from the bypass to the Turkish border at Sarpi: 11.3 km with a 7.6 km tunnel, financed by a EUR 306.6 million ADB loan, with a GEL 809 million contract announced in September 2026 and 48 months of works. It should take border traffic away from Gonio and Kvariati, which now sit on the only coastal road south. Batumi airport handled a record 1,230,200 passengers in 2025; a terminal extension was announced in June 2026, and in February 2026 the operator presented a concept for a new terminal, still without a date.

Further north, the Anaklia deep-sea port is being built again after two false starts. The Chinese consortium chosen in 2024 never signed, and in July 2026 the government switched to a model in which the state builds the core infrastructure and private operators lease the terminals. Dredging and the breakwater are under way, the first phase is planned for 600,000 containers a year, and the prime minister expects the first ships in 2029. We found no price data for Anaklia or Zugdidi, so any effect on property there is guesswork.

Between the cities

The Rikoti pass highway, 52 km with 51 tunnels and 97 bridges, cost about GEL 2.6 billion and was financed by the ADB, the EIB, the World Bank and the state budget. The prime minister said it roughly halved the time needed to cross the pass. A government target of three hours by car from Tbilisi to Batumi has been repeated since 2024, but we found no official measured drive time after the opening. One weak point remains: the Samtredia-Grigoleti bridge over the Rioni, which collapsed in February 2023, was due to reopen in one direction in 2026 and in both in early 2027, and we could not confirm the first reopening.

On the railway, the modernisation of the mountain section was completed in December 2025, and since August 2026 Georgian Railway says the Tbilisi-Batumi train takes about 4 hours instead of 5.5. Kutaisi airport's new runway, built under a contract of up to GEL 240 million, should allow the largest aircraft from the end of 2026, later than the spring 2026 first planned.

Mountain resorts

• Gudauri. The Kvesheti-Kobi road, 23 km with five tunnels, is designed to keep traffic moving when the Jvari Pass is closed. In July 2026 the infrastructure ministry said the main 9 km tunnel had been excavated, that a new 5 km road to Gudauri would be finished in 2026 and that the whole road would open in 2028; earlier targets were 2025 and then 2027. For winter 2026-27, new runs of 6 km, snowmaking on 7.5 km and two surface lifts are due in December 2026.
• Bakuriani. The narrow-gauge railway from Borjomi, idle since 2020, should run again in December 2026 according to the economy minister in October 2026; in April the prime minister had mentioned January 2027.

Resort prices move with snow, flights and the economy, and Galt & Taggart's resort reports do not attribute any change to infrastructure. A road that makes Gudauri reachable on more days could still matter for rental income, because winter closures cost bookings.

Eagle Hills: the largest announced development

The project most often quoted as a future price driver is not infrastructure but a private development. In October 2025 the government signed agreements with Eagle Hills of Abu Dhabi for a USD 6.6 billion development on two sites, in Krtsanisi in Tbilisi and at a former military base in Gonio near Batumi, with about 16,000 homes, more than 1,400 hotel rooms and a marina. Prices from USD 2,090 per m² in white frame were reported in January 2026. As of October 2026 we found no building permit and no start of construction, although the prime minister had spoken in November 2025 of work beginning within months. Sources also disagree on the size of both sites. Until a permit is issued, treat claims that nearby flats will rise because of it with caution.

Projects that were announced and not built

The pattern is clear: large projects in Georgia are usually completed when a development bank finances them and a contractor is on site, and usually late. Projects announced as political promises, without financing, have a much weaker record.

How to check a "coming soon" claim

1. Ask for the document

   A signed construction contract or loan agreement counts; a memorandum, a feasibility study or a market survey does not.

2. Find the lender

   Projects financed by the ADB, EBRD, EIB or World Bank have public project pages with amounts and closing dates.

3. Check the tender

   The Roads Department and City Hall publish tenders; a project with no tender has no contractor.

4. Look at the route

   Measure the walking distance from the building to the planned station or exit, not the distance on a sales map.

5. Add the delay

   Plan your numbers on the assumption that the project opens two or three years after the official date.

Risks and exceptions

• Delay. Most large projects here have opened years after their first target.
• Cancellation. Lazika and the first Anaklia contract show that announced projects can stop.
• Construction years. Works can make an area noisier and harder to reach for several years.
• New supply. A new line also attracts new blocks, which compete with yours for tenants.
• Marketing claims. Sales material often treats a plan as a finished project.

Frequently asked questions

Is Tbilisi getting new metro stations?

Two stations at the ends of line 1 and a third line are planned, but none had a construction contract in October 2026.

When will the Tbilisi tram open?

The contract signed in September 2026 runs for 36 months, so around September 2029.

Is the Rikoti highway open?

Yes, the 52 km section opened in full on 30 December 2025.

How long does the train from Tbilisi to Batumi take?

About 4 hours since August 2026, according to Georgian Railway.

When will the Kvesheti-Kobi road open?

The ministry's latest target is 2028 for the whole road, with an access road to Gudauri in 2026.

Has Eagle Hills started building?

We found no permit or start of construction as of October 2026.

Does a metro station raise prices?

International studies find about 4% for homes within about 400 m on average, with wide variation; there is no Georgian study.

Will the Anaklia port raise prices nearby?

There is no price data for the area, and the first ships are not expected before 2029.

Sources

1. The impact of railway stations on residential and commercial property value: a meta-analysis, Debrezion, Pels and Rietveld, Journal of Real Estate Finance and Economics, 2007 (accessed 19 October 2026)
2. A meta-analysis of the impact of rail projects on land and property values, Mohammad, Graham, Melo and Anderson, Transportation Research Part A, 2013 (accessed 19 October 2026)
3. Construction of Rikoti pass highway is complete, First Channel, 29 December 2025 (accessed 19 October 2026)
4. Rikoti pass highway opens, Civil Georgia, 30 December 2025 (accessed 19 October 2026)
5. Railway modernisation project completed, Civil Georgia, 25 December 2025 (accessed 19 October 2026)
6. Tbilisi-Batumi train time cut to four hours, Georgia Today, 6 August 2026 (accessed 19 October 2026)
7. Tbilisi tramway design and build contract signed, Railway Gazette International, 15 September 2026 (accessed 19 October 2026)
8. Tbilisi metro extension market survey announced, Business Media Georgia, 12 January 2026 (accessed 19 October 2026)
9. Tbilisi plans tram and metro projects, Railway Gazette International, 8 September 2025 (accessed 19 October 2026)
10. Georgia and ADB sign USD 250 million loan for Tbilisi bypass, Georgia Today, 5 August 2026 (accessed 19 October 2026)
11. Tbilisi bypass tender deadline moved, Business Media Georgia, 2026 (accessed 19 October 2026)
12. Tbilisi airport expansion launched, Civil Georgia, 13 July 2026 (accessed 19 October 2026)
13. Tbilisi airport expansion and the Vaziani proposal, OC Media, July 2026 (accessed 19 October 2026)
14. Rustaveli Avenue rehabilitation, Civil Georgia, 21 July 2026 (accessed 19 October 2026)
15. Tbilisi launches buyout programme for homes in cultural heritage zones, Georgia Today, 11 February 2026 (accessed 19 October 2026)
16. Construction begins on new Batumi-Sarpi road, First Channel, September 2026 (accessed 19 October 2026)
17. Batumi airport expansion concept, Ministry of Economy and Sustainable Development, 19 February 2026 (accessed 19 October 2026)
18. Changes to the Anaklia port development model, JAMnews, 7 July 2026 (accessed 19 October 2026)
19. Anaklia port dredging begins, Interfax, 5 August 2026 (accessed 19 October 2026)
20. Prime minister on the Anaklia port works, FrontNews, 7 October 2026 (accessed 19 October 2026)
21. Samtredia-Grigoleti bridge reconstruction, Georgia Today, 30 October 2025 (accessed 19 October 2026)
22. Kutaisi airport to accommodate wide-body aircraft by year end, First Channel, 28 July 2026 (accessed 19 October 2026)
23. Kvesheti-Kobi road: Ministry of Infrastructure update, 16 July 2026 (accessed 19 October 2026)
24. Planned works in Gudauri, FrontNews, 5 August 2026 (accessed 19 October 2026)
25. Borjomi-Bakuriani railway to resume operations in December, Georgia Today, 9 October 2026 (accessed 19 October 2026)
26. Prime minister on the Eagle Hills project in Krtsanisi and Gonio, First Channel, 16 November 2025 (accessed 19 October 2026)
27. Price per square metre in the Eagle Hills project, Business Media Georgia, 6 January 2026 (accessed 19 October 2026)
28. Whither the city of Lazika, Eurasianet (accessed 19 October 2026)
29. Georgia defeats ICC arbitration claim over the Anaklia port, White & Case, 2024 (accessed 19 October 2026)
30. Tbilisi railway bypass suspended, Trend, 6 August 2013 (accessed 19 October 2026)

Change log

• 19 October 2026 - Explainer published from ministry, city and lender announcements, Georgian media reports and two international meta-analyses of the effect of stations on property prices.