The UAE’s Green Valley International Real Estate Company has announced plans for an AED 500 million ($136m) project in Georgia.

The Green Valley City project, set to be built in the capital of Tbilisi, is to span 88,000 square metres and comprise of 10 buildings containing 510 residential units, ranging from studios to two-bedroom apartments. It will also house a private district with luxury villas.

The size of the residential units will vary from 33.69 sqm to 99.62 sqm, with prices starting at AED 167,300 ($45,500), the developer said. Villas will be 205.52 square meters with an outdoor garden spread over 125 sqm with prices starting at AED 885,900.

Planned amenities include pools, football pitches, tennis courts, public gardens, children’s play areas and Turkish baths.

“Georgia is one of the most attractive destinations for real-estate development and investments in Europe – complete with remarkable nature areas, a secure living environment, socio-economic stability, advanced infrastructure, outstanding investment facilities and attractive incentives such as tax exemption and permanent residency,” said Ali Saeed Al Salami, general manager of Green Valley.

“For this project, we will be providing special offerings and facilities to Arab and GCC citizens who would like to invest.”