Is the payment plan interest free?

The developer publishes a 0 percent installment plan across 48 months.

Can a non-resident buy property in Dubai?

Yes. The UAE Government portal states that foreigners who do not live in the UAE may acquire freehold ownership rights in designated areas without restriction. In August 2026, 9,772 of 9,956 screened residential unit sales, or 98.2 per cent, were in those freehold areas.

Do I need a residence visa to buy a home in Dubai?

No. Ownership and residency are separate. You do not need a UAE visa to buy, and buying does not by itself grant one.

Which parts of Dubai can a non-resident not buy in?

Only areas outside the designated freehold zones. In the August 2026 register just 184 screened sales, 1.8 per cent, were in non-freehold areas, and they fell in five area labels led by Silicon Oasis and Dubai Investment Park.

Is freehold property more expensive?

Per square foot, yes. The median freehold sale registered at AED 1,714 per square foot against AED 965 for non-freehold, which is 77.6 per cent higher.

How does a Dubai home compare with a US home on price?

The median freehold Dubai sale in August 2026 was about USD 306,180. The National Association of Realtors reported a US median existing-home price of USD 429,100 for the same month. Both are sold prices, but 74.5 per cent of the Dubai freehold sales were off-plan.

Ambassadori Island Batumi: The First Tower

Q: What is the cheapest way into The First Tower?

On the July 2026 list a 37.10 sqm studio was $120,670 on the 20 percent plan, or $108,603 paying in full with the 10 percent discount.

Q: When does The First Tower complete?

February 2029 as published by the developer. All permits have been received and construction has started.

The First Tower at Ambassadori Island Batumi seen from the Black Sea — The First Tower, Ambassadori Island Batumi. Developer render.

Cresco Real Estate is the exclusive United States representative for The First Tower at Ambassadori Island Batumi. If you are an American buyer, this page is the developer's own published information, checked against the developer's documents, with nothing added.

Ambassadori Island Batumi is an 84 hectare master planned development on what the developer states is the first artificial island built in the Black Sea. The First Tower is the debut residential building on it. Construction has started and all permits have been received.

Masterplan view of Ambassadori Island Batumi on the Black Sea — Ambassadori Island Batumi masterplan. Developer render.

The First Tower, verified specifications

Item	Detail
Developer	Ambassadori Group, Georgia
Location	Ambassadori Island, Batumi, Adjara, Georgia
Apartments	1,358 total, including 8 duplexes
Floors	58
Building height	216 metres, about 709 feet
Parking	3 levels, indoor parking for 240 cars
Vertical transport	9 elevators, 3 stairwells
Unit types	Studio, one bedroom, two bedroom, duplex
Ceiling height	3 metres
Construction	Monolithic concrete, pile foundation
Interior design	Studio D73, Italy
Delivery date	February 2029
Permits	All received, construction started

Unit sizes

Type	Total area	Approximate sq ft	Outlook
Studio	37.1 to 44.9 sqm	399 to 483	Sea and island
One bedroom (1+1)	53.4 to 72.5 sqm	575 to 780	Sea, island and mountains
Two bedroom (2+1)	108.4 to 109.1 sqm	1,167 to 1,174	Sea, island and mountains

Square foot figures are converted from the developer's published square metre areas at 10.7639 sq ft per sqm. Use the metric figures in any contract.

Apartment interior at The First Tower Batumi designed by Studio D73 — Apartment interior by Studio D73 of Italy. Developer render.

What is actually included

Every apartment is delivered with premium turnkey finishing, built in furniture and a fully equipped kitchen. That is not standard in this region and it matters for an overseas owner, because it removes a fit out project you would otherwise manage from another continent.

Also included as standard: central heating, ventilation and fire safety systems, high speed internet to the apartment, and building maintenance to Ambassadori Hotels standards. Layouts are by Studio D73 of Italy, a long standing Ambassadori partner.

Optional upgrades published by the developer are a smart home system, heated floors, and a full turnkey furnishing package in three versions following D73's design concept.

Apartment balcony with sea view at The First Tower Batumi — Balcony outlook from an apartment in The First Tower. Developer render.

Prices and payment plans

These figures are taken from the developer's July 2026 price list and a sample offer for unit 417, a 37.10 sqm studio on floor 4. Prices change. Ask us for the live list before you decide anything.

Plan	Discount	Price per sqm	Total
100 percent payment	10 percent	,927	08,603
30 percent down, 36 months	4 percent	see live list	see live list
30 percent down, 48 months	1 percent	see live list	see live list
20 percent down, 48 months	none	$3,253	20,670

How the 20 percent plan actually runs. On that studio the reservation is

,006 in year four.

Read that carefully. The payment plan runs to July 2030 while the building is delivered in February 2029. You are paying for roughly 17 months after you take delivery. That is unusual and it is in your favour, but build it into your cash planning rather than assuming payments stop at handover.

Waterfront promenade at Ambassadori Island Batumi — The island waterfront promenade. Developer render.

Why Georgia is different for an American buyer

Georgia is one of the most open property markets in the world and the rules are genuinely simple. The developer publishes these and they match Georgia's public framework.

100 percent foreign ownership. No local partner, no nominee structure, no residency requirement.
0 percent annual property tax on residential property at this level.
5 percent rental income tax under the small business regime.
Registration through the Public Registry, which is a same day process in most cases.

What this page will not do is pretend the US side is simple. As a US person you carry reporting obligations on foreign assets and foreign income regardless of where the property sits. Depending on how you hold it and what it earns, that can include FBAR and FATCA reporting, and your worldwide income remains reportable to the IRS. Georgia and the United States do not currently have an income tax treaty in force. Speak to a US CPA who has handled foreign real property before you sign anything. We are a brokerage, not your tax advisor.

Facade of The First Tower by Ambassadori in Batumi — The First Tower facade. Developer render.

Who the developer is

Ambassadori Group has operated in Georgia since 2004 and is one of the country's established hospitality and real estate groups. Their record is checkable, which is the point of listing it.

Year	Project	Note
2004	Hotel Ambassadori Tbilisi	Five star city hotel, 8.9 on Booking.com
2007	Ambassadori Kachreti Golf Resort	Georgia's first golf resort, 9.0 on Booking.com
2018	Stefano Ricci franchise	Luxury fashion partnership
2021	Hotel Ambassadori Goderdzi	Five star ski resort hotel, 9.3 on Booking.com
2022	Keburia Winery	Wine estate
2024	Ambassadori Academy	Education

The Prime Minister of Georgia, members of the Cabinet and the leadership of the Autonomous Republic of Adjara attended the capsule laying ceremony for The First Tower's foundation.

Who designed and engineered it

This is the part that separates the project from ordinary coastal stock, and all four firms are verifiable independently.

ARUP, the British engineering and design firm, delivered the masterplan concept design.
SHoP Architects of New York designed The Gate, the twin tower landmark on the island. SHoP are known for Steinway Tower on West 57th Street in Manhattan.
Yuksel Proje, the Turkish engineering firm behind Ordu Giresun Airport, the first airport in Europe built on the sea, contributed the island's marine engineering. They specialise in Black Sea hydrology and wave conditions.
Studio D73 of Italy designed the apartment interiors and layouts.

The 9 hectare central park at Ambassadori Island Batumi — The 9 hectare central park on the island. Developer render.

What is on the island

The First Tower sits inside an 84 hectare masterplan. Developer published components include a 9 hectare central park, a private marina and yacht club, a 120,000 sqm mall by IG Development, a 10,000 sqm event hall, a 5,000 sqm casino, more than 50 cafes and restaurants, rooftop bars, and what the developer states is the first white sand beach in Georgia.

Inside the tower itself: a fitness centre with panoramic views, a rooftop swimming pool, a bar and restaurant on the 57th floor, padel courts and workout zones, residents only children's playgrounds, and a shopping gallery with cafes, restaurants and supermarkets at the base.

Recognition

The developer publishes four awards for the project: Best Luxury Urban Development 2026, Best Luxury Coastal Masterplan Development 2026, Hospitality Real Estate Project 2025, and Country's Most Innovative Project 2025. We list these as the developer presents them. Ask us for the awarding body on any one of them and we will get it in writing.

What we are not telling you, and why

You will find decks for this project carrying projected annual returns and capital growth forecasts to 2032. We have deliberately left every one of those numbers off this page.

They are the developer's projections, not ours, and they are built on assumed rental inflation and assumed location premiums several years out. We are not going to put a forecast return in front of an American buyer and let it read like a promise from Cresco. If you want to see the developer's own ROI model we will send it to you directly, clearly labelled as theirs, and we will walk you through which assumptions we think are reasonable and which we think are optimistic.

Anything on this page you want backed by a document, ask. We have the permits, the developer corporate file, the layouts, construction progress reporting and the draft reservation and pre purchase contracts.

Bar and restaurant on the 57th floor of The First Tower Batumi — Bar and restaurant on the 57th floor. Developer render.

Frequently asked questions

Can an American citizen buy property in Georgia?

Yes. Georgia permits 100 percent foreign ownership of residential property with no residency requirement and no local partner. Registration is through the Public Registry.

What is the cheapest way into The First Tower?

On the July 2026 list a 37.10 sqm studio was

20,670 on the 20 percent plan, or

08,603 paying in full with the 10 percent discount. Ask us for the current list.

Is the payment plan really interest free?

The developer publishes a 0 percent installment plan. The sample offers we hold show no interest added across the 48 months. We will send you the actual schedule for the unit you are considering so you can check it line by line.

When does The First Tower complete?

February 2029, as published by the developer. All permits have been received and construction has started.

Do I pay tax in the United States on this?

Probably, on the income and potentially on the gain, and you may have foreign asset reporting obligations as well. Georgia and the US do not currently have an income tax treaty in force. Talk to a US CPA with foreign real property experience. We will not advise you on this.

Why is Cresco the only American route to this project?

Cresco Real Estate holds exclusive United States representation for The First Tower. If you are buying from the US, you are dealing with us or you are dealing with the developer directly from eight time zones away.

Speak to us about The First Tower

We will send you the live price list, the available units with their actual floor and outlook, the full payment schedule for the unit you want, and the developer's document pack. No obligation and no pressure, and we will tell you plainly if we think the unit you are looking at is the wrong one.

One Firm. Both Cities.

Dubai HQ · Hollywood office · research coverage across the corridor. Start with the free report.

Get the Free Report How Americans Buy Dubai