Trump Tower Project in Tbilisi Raises Conflict-of-Interest Concerns

The Trump Organization, led by Donald Trump Jr. and Eric Trump, announced a venture to build a 70-storey tower on Tbilisi’s former Soviet hippodrome, a site of roughly 80,000 sq m that would become the city’s tallest building.

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The site is registered to the International Charity Fund Cartu, owned by Cartu Group JSC. Cartu Group is 35 % owned by Uta Ivanishvili, son of Bidzina Ivanishvili, leader of Georgia’s Georgian Dream party, who was sanctioned by the United States in 2024 for undermining Georgia’s democratic and Euro-Atlantic future. The remaining 65 % of Cartu Group’s shares are anonymous.

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• Oct 16 2023: Preliminary purchase agreement signed for the remaining 80,000 sq m of the former racecourse.

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• 2024: U.S. sanctions imposed on Bidzina Ivanishvili.

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• Apr 2026: Trump Organization releases press statement announcing the tower.

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• May 25 2026: Media reports highlight the land’s partial ownership by the sanctioned family.

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Georgian Dream officials tout the tower as a confidence boost for the economy. Critics argue that linking a U.S. brand with a sanctioned family blurs private investment and political patronage, raising potential U.S. sanctions compliance risks.

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The White House reiterated that neither President Donald Trump nor his family have engaged, and will not engage, in conflicts of interest. Georgian parliamentary speaker Shalva Papuashvili said the Trump brand’s entry signals confidence in Georgia’s environment and that the company safeguards its reputation.

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Sandro Kevkhishvili, anti-corruption programme manager at Transparency International Georgia, warned the tower “is not merely a private business project, but rather a political one,” citing charitable land ownership, the Ivanishvili family’s influence, and state-aligned media framing the deal as a ruling-party victory.

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The identity of the 65 % of Cartu Group’s shareholders remains undisclosed, preventing verification of ultimate beneficiaries. No Georgian firms in the project are listed under sanctions, yet the indirect link to a sanctioned individual creates compliance ambiguities.

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• “The White House has said that “neither the president nor his family” have “ever engaged, or will ever engage, in conflicts of interest”.” — White House spokesperson

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• “proud to bring this globally recognised standard of excellence to Georgia and are especially pleased to collaborate with such respected and professional developers on this project” — Eric Trump, Executive Vice-President, Trump Organization

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• “when Trump’s company enters Georgia under its own brand, it means it has a strong understanding of the existing environment. Naturally, Trump and his company are careful to protect the reputation they have built.” — Shalva Papuashvili, Speaker of the Georgian Parliament

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• “not merely a private business project, but rather a political one” — Sandro Kevkhishvili, Anti-Corruption Programme Manager, Transparency International Georgia

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Under the October 2023 agreement, the remaining land will be transferred to Central Park Avenue LLC once full payment is made to Cartu Fund. The White House has referred inquiries about the deal to the Trump Organization, which has not responded.

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