A360
Key Takeaways✦ Atlas AI
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Trump Tower planned in Tbilisi.
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Land linked to sanctioned Georgian's son.
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U.S. sanctions impact business dealings.
Atlas AI
A proposed Trump Tower in Tbilisi, Georgia, is planned for land that is partly linked through ownership records to the family of Bidzina Ivanishvili, a Georgian politician sanctioned by the United States in 2024. The Trump Organization announced the project in April and said it will partner with a local consortium to build a 70-story tower. Official records list the current registered owner of the project site as the International Charity Fund Cartu.
Fund Cartu is wholly owned by Cartu Group JSC, which is 35% owned by Uta Ivanishvili, the son of Bidzina Ivanishvili, who is the honorary chair of Georgia’s ruling party. Uta Ivanishvili is not under U.S. sanctions, but his shareholding in Cartu Group JSC fell from 100% to 35% in 2024 after his father was sanctioned.
The U.S. sanctioned Bidzina Ivanishvili in 2024 for “undermining the democratic and Euro-Atlantic future of Georgia for the benefit of the Russian Federation,” according to the sanctions description cited in the records referenced by the article. Under the sanctions regime described, U.S. citizens are prohibited from conducting business with Bidzina Ivanishvili personally without authorization, though an exemption exists for businesses he controls.
The development is presented as a joint venture between the Trump Organization and a group of partners that includes four Georgian firms—Archi Group, Biograpi Living, Blox Group, and Finvest Georgia—alongside the U.S.-based Sapir Organization. In announcing the project in April, Eric Trump, an executive vice president at the Trump Organization, said the company was “proud to bring this globally recognised standard of excellence to Georgia.”
Ownership records and the project site
The tower is planned for a central Tbilisi plot that was formerly a Soviet-era horse-racing track. The land is currently registered to Fund Cartu, according to official records cited in the article.
An agreement was reached in 2023 for the land to be sold to Central Park Avenue LLC. A lawyer for Ivanishvili confirmed a preliminary purchase and sale agreement for 80,000 square meters of land was signed on October 16, 2023, and said the transfer of the remaining land would be contingent on payment.
What the sanctions mean for U.S. dealings
The sanctions referenced in the article prohibit U.S. citizens from conducting business, processing payments, or providing services to Bidzina Ivanishvili personally without authorization. The article also notes an exemption related to businesses he controls, though it does not specify how that exemption would apply to this project.
Next steps will hinge on the completion of the land transfer to Central Park Avenue LLC and any further disclosures about ownership and compliance as the Trump Organization and its partners advance the development plans.
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