Georgia today. Regional growth ahead.
Georgia is Soho’s only current operating market. The plan is to expand the integrated real estate model from this base to Central Asia, the wider Caucasus and the Middle East through selected mandates and partnerships. These regions are opportunities for future expansion, not current operations.
Georgia
The current operating base, with the team’s established construction experience and client relationships.
South Caucasus
Planned expansion beyond Georgia, building on the home-market record through local partnerships and project mandates.
Central Asia
Uzbekistan and Kazakhstan are prospective markets for development, construction and advisory mandates, not current operating locations.
Middle East
Potential capital partnerships and future project and advisory mandates. No current operating presence is claimed.
Georgia
current operating market
- Tbilisi operating base
- Established construction experience
- Existing client relationships
the base for planned growth
SOHO CAPITAL GROUP
a Georgian platform for planned regional growth: assess, partner, secure mandates, then scale
Regional opportunities
planned future expansion
- South Caucasus — beyond Georgia
- Central Asia — prospective mandates
- Middle East — partnerships and mandates
opportunities · not current operations
Georgia is the operating market today. Regional growth follows opportunity, diligence and signed mandates — not an assumed footprint.
Build from Georgia. Enter selectively.
A planned approach to expansion across the South Caucasus, Central Asia and the Middle East. Each new market must pass the same diligence and mandate-led entry tests.
Assess the opportunity
Review demand, delivery conditions, local partners and the legal and capital structure before selecting a market.
Secure a mandate
Start with advisory, construction or development-management work supported by a signed mandate and a credible local relationship.
Commit selectively
Consider an operating presence or Group capital only after diligence and demonstrated demand. No expansion timetable is promised.
Forward-looking growth intentions only. Not a forecast or a statement of current operations outside Georgia.
The tests for future market entry
These tests guide planned expansion. Georgia is the only current operating market; references to other regions describe opportunities and relationships, not existing operations.
A structural gap we can fill
Contractors and capital exist at scale; no institutional layer sits between them.
Build on experience in Georgia while assessing the gap in each prospective neighbouring market.
No gap in capital. The gap is counterparties able to deploy it credibly out east.
Capital and assets that need matching
Gulf funds already deployed at scale in power, renewables and data centres.
$6.5bn of Gulf money committed in Tbilisi and Batumi by a single developer.
Sovereign funds hold roughly 40% of global SWF assets and are looking east.
A way in that does not require buying in
Advisory and development-management mandates precede any commitment of Group equity.
The fee book operates in Georgia today. Entry elsewhere would begin with a signed mandate.
Capital-raising mandates need no balance sheet and no local entity at all.
A relationship we already hold
Government and business-development networks are in place across the region.
Georgia is the home market. Relationships elsewhere would need to support a viable entry mandate.
Golden Gate’s private banking and family-office relationships in the Gulf.
What this excludes: Western Europe, where the layer already exists; Russia, where currency and sanctions risk cannot be underwritten; and any market entered without a relationship in hand.
A potential partner in regional growth
The Middle East is a prospective source of capital partnerships and future mandates. The examples below describe investment by other organisations, not Soho projects, clients or current operations in the region.
Gulf institutional capital
sovereign funds control roughly 40% of global SWF assets — six of the ten largest funds in the world
ADIA
Abu Dhabi
PIF
Saudi Arabia
QIA
Qatar
Mubadala
Abu Dhabi
ADQ
Abu Dhabi
External investment in Central Asia
- ACWA Power — c.$15bn in Uzbekistan, its largest market outside Saudi Arabia
- Masdar — $2bn+ in renewables; Nebras Power — $3bn+ in power generation
- Taqa and Mubadala in gas generation; DataVolt in Tashkent data centres
External investment in the South Caucasus
- Eagle Hills of Abu Dhabi — $6.5bn committed in Tbilisi and Batumi
- A Saudi–Georgia investment platform launched in Tbilisi in 2025
- Non-Western capital now setting the margin as European FDI recedes
The Group’s thesis: Whoever becomes that counterparty captures the fee stream on the way in and the co-investment on the way through.
Market context from the August 2026 presentation. Named funds are not identified as Soho clients or partners. Growth intentions are forward-looking; not a forecast.
Three genuinely different ways to take part in it.
How investors participate