Tbilisi, the Tbilisi Hills above the city
Georgia's first branded master community: 784 units in the Tbilisi Hills, an 18-hole golf course, a European school and entry from AED 720,000.
Payment plan — 60/40, entry from AED 720,605. The exact tranche breakdown is read off the contract: the name of the plan and the payment schedule are different things.
Mira Verde is the residential part of Tbilisi Hills, a golf resort in the hills above the Georgian capital. The developer calls it the country's first branded master community, and by format that genuinely is new for Georgia: not a single building but a planned territory with its own infrastructure.
The mix: 600 apartments, 104 villas, 80 townhouses. The smallest unit is 38 m², so the scheme includes compact studios rather than family formats only. The residences are branded by Trussardi, with Trussardi Casa interiors.
The stated infrastructure: an 18-hole golf course to international standard, a wellness centre with spa and gym, a European school and nursery, a university leaning towards artificial intelligence, cafés and restaurants, retail galleries, offices and professional rental management.
Entry terms: from AED 720,605 for a studio, roughly AED 1.2m for a one-bedroom and roughly AED 1.9m for a two-bedroom. Payment plan 60/40.
For a CIS buyer, Georgia is a different class of market from the UAE, and comparing them head-on is pointless. The entry price is lower, the ownership regime for a foreigner is simpler, and the market itself is markedly smaller.
One thing matters from the tax side: the developer points to the Georgian rule under which reselling property after two years of ownership is untaxed. That is a national rule, not a concession by the project, and it should be checked with a local tax adviser against your specific transaction rather than off a developer page.
Tbilisi is a capital with a permanent population, universities and offices — not a resort with a season. Rent here is spread more evenly across the year than in resort schemes, but the rate is lower too: the payer is a local or relocated tenant, not a visitor from the Gulf.
The main departure from Dubai logic is currency. The project quotes prices in dirhams, but the economics live in lari and in local rates. That is not a problem in itself, but in any yield model the currency risk has to be its own line rather than disappearing into rounding.
The developer states an 8% guaranteed yield for the first ten years and a five-year warranty on servicing. It is the most prominent number in the whole description — and for that reason it carries the most questions.
A guaranteed yield is never free. Either it is already priced into the unit — meaning the buyer spends ten years receiving their own money back — or it is funded by the management company's operating flow, in which case everything depends on who that company is and what happens if the flow falls short.
So the questions are always the same. Who exactly gives the guarantee — the developer, a separate legal entity or the management company. What backs it beyond a signature. What base the 8% is computed on — the purchase price, or net income after costs and service charge. What happens on an occupancy shortfall. And whether you can leave the scheme early if you decide to sell.
The answers to those five belong in the contract. If they are there and they suit you, the scheme works. If the guarantee exists only in the presentation, the yield is computed off the Tbilisi market rather than off a promise, and the number comes out different.
The first case is diversification. For a buyer who already owns in the UAE, Georgia adds a second jurisdiction and a different currency perimeter at an entry price under a million dirhams.
The second is a home with a move or long stays in mind: a school, a nursery and a university inside the community is a family scenario, not an investment one.
The third is letting through professional management, if the terms suit. Furnishing and an operator take the operational load off you, and in a foreign country that weighs more than an extra point of yield.
It does not suit anyone expecting Dubai price dynamics. Tbilisi grows for different reasons and at a different speed, and carrying UAE expectations into it is the most common mistake in this transaction.
Source of the figures — the project page at the developer: miradevelopments.ae/communities/mira-verde
Breakdowns from the English channel — the market, the taxes and the numbers. Each one has a written version here.
Mira Coral Bay UAE A beachfront resort community in Ras Al Khaimah: fourteen partner brands, two beach clubs and several five-star hotels inside one masterplan. 
Mira Ocean Estates Oman Nine hectares on the shore in Salalah: branded apartments and villas around a five-star hotel, a medical wellness centre and a private beach. 
Mira Hills UAE An AED 55bn master community between Dubai and Abu Dhabi where the first phase sells land: AED 325 per square foot, smallest plot AED 22m. Send me your budget and what the purchase is for — I will come back with the current price list, the available units, and which of the stated figures need checking against the contract.
