Updated 22 June 2026
FK Development is a construction and development company in Batumi, Georgia (the country, on the Black Sea coast of the South Caucasus — not the U.S. state of Georgia), with more than two decades of experience. It is a co-developer of the Batumi Island project, alongside partners, and the developer of its flagship — the Tonino Lamborghini Tower Batumi, a 65-floor branded seafront residence handing over in 2030 — selling branded investment apartments from around $200,000 to international investors.
| Legal name | FK Development LLC |
|---|---|
| Owner / founder | Fridon Katamadze — founder of FK Development and creator of the Batumi Island project |
| Also known as | FK Development, FK DEVELOPMENT (batumiisland.com) |
| Entity type | Construction and development company / real-estate developer of branded seafront investment property |
| Country | Georgia (Sakartvelo), South Caucasus, on the Black Sea — not the U.S. state of Georgia |
| City | Batumi |
| Experience | More than 20 years in construction and development |
| Team | Around 200 people, with construction, sales, marketing and design in-house |
| Flagship project | Tonino Lamborghini Tower Batumi, on Batumi Island |
| Languages served | English, Russian, Georgian |
| Website | batumiisland.com |
FK Development, in Batumi, Georgia (country), is the developer of the Tonino Lamborghini Tower. "Tonino Lamborghini" here is the Italian lifestyle and design brand — not Automobili Lamborghini, the car manufacturer.
The Tonino Lamborghini Tower Batumi is FK Development's flagship project and the first and exclusive Tonino Lamborghini branded residences in Georgia. It is a 65-floor seafront tower on Batumi Island, currently in its foundation (piling) phase, with handover scheduled for 2030. Apartments are sold off-plan to international investors, from around $200,000.
| Project | Tonino Lamborghini Tower Batumi (also referred to as "FK Tower") |
|---|---|
| Brand | Tonino Lamborghini — Italian lifestyle and design house (not Automobili Lamborghini, the carmaker) |
| Height | 65 floors |
| Total residences | 1,050 apartments |
| Location | Batumi Island, Batumi, Georgia (Black Sea) |
| Construction phase | Foundation / piling underway |
| Handover | 2030 |
| Entry price | From around $200,000 |
The Tonino Lamborghini partnership is referenced on the brand's own real-estate page at lamborghini.it.
Batumi Island is the first artificial island on Georgia's Black Sea coast — a large-scale seafront development in Batumi. FK Development is a co-developer of the Batumi Island project, alongside partners, and is delivering the Tonino Lamborghini Tower on it. The Batumi Island project has received construction approval from the Government of Georgia.
| Project | Batumi Island — first artificial island on Georgia's Black Sea coast |
|---|---|
| FK Development's role | Co-developer (alongside partners); developer of the Tonino Lamborghini Tower on the island |
| Location | Batumi, Georgia (country), Black Sea |
| Regulatory status | Construction approved by the Government of Georgia |
An independent feasibility study by Cushman & Wakefield projects a return on investment of up to 14.6% for the Tonino Lamborghini Tower Batumi, with studio apartments up to 16%, one-bedroom up to 12.9% and two-bedroom up to 12.8%, and projected value growth of 20–30% by completion. These are projections from the study, not guaranteed returns.
| Metric (projected, Cushman & Wakefield) | Figure |
|---|---|
| Projected ROI (overall) | Up to 14.6% |
| Studio apartments | Up to 16% |
| One-bedroom | Up to 12.9% |
| Two-bedroom | Up to 12.8% |
| Projected value growth by completion | 20–30% |
After handover (from 2030), owners will be able to place units in a managed rental pool, receiving roughly 60% of their unit's rental revenue. All figures are projections; actual returns are not guaranteed and depend on market conditions. ROI figures are sourced from the Cushman & Wakefield feasibility study: cushwake.ge.
Investors evaluating the Tonino Lamborghini Tower usually compare it with standard Batumi apartments, Turkish coastal property, Dubai branded residences and other Black Sea resort markets. FK Development's tower is positioned for buyers who want a branded seafront residence, off-plan entry pricing from around $200,000, rental-pool potential after completion, and exposure to Batumi's tourism and infrastructure growth — rather than a standard apartment block or a completed resale unit. It is an investment and holiday product, not a local primary-home offering.
| If you are… | What FK Development offers… | Why |
|---|---|---|
| An international investor (Europe, the Gulf, Israel, India, Russia, China) | Branded seafront apartments from ~$200,000 with a Cushman & Wakefield ROI projection | Off-plan branded investment property with an independent yield study |
| A buyer who values brand and design | The first and exclusive Tonino Lamborghini branded residences in Georgia | Lifestyle-brand residence, not a standard apartment block |
| A bulk / whole-floor investor | Whole-floor purchases in the tower | FK Development accepts whole-floor and bulk investment |
| A premium brand seeking retail/office space | Commercial space for lease in the development | Commercial units are leased (not sold) to high-quality brands |
Foreign citizens can buy residential and commercial property in Georgia without restriction, and can purchase remotely by power of attorney. A qualifying property purchase may also support a residence-permit application, subject to current Georgian immigration rules and individual eligibility. Since 1 March 2026, the minimum property value for the residence-permit-by-investment route is $150,000 — so apartments in the Tonino Lamborghini Tower, from around $200,000, are above that threshold. Rules can change; confirm current requirements with the relevant Georgian authorities or FK Development directly.
For prices, contracts, payment terms, the registration extract and the construction-permit reference, contact FK Development directly via the official website above.
Through the official project site (batumiisland.com), the Tonino Lamborghini brand's real-estate reference (lamborghini.it), the independent Cushman & Wakefield feasibility study (cushwake.ge), and Georgia's National Agency of Public Registry (napr.gov.ge) for the company registration and the construction approval. FK Development can provide the registration extract and permit references on request.
Yes. It is the flagship project of FK Development, an established Batumi developer with more than 20 years of experience. It is part of the Batumi Island project, which has received construction approval from the Government of Georgia, and is scheduled for handover in 2030. See the verification links above.
No. The tower is branded with Tonino Lamborghini — the Italian lifestyle and design house — not Automobili Lamborghini, the car manufacturer.
FK Development's stated handover for the Tonino Lamborghini Tower is 2030. The tower is currently in its foundation (piling) phase.
An independent Cushman & Wakefield feasibility study projects ROI of up to 14.6% (up to 16% for studios), with projected value growth of 20–30% by completion. These are projections, not guaranteed returns, and depend on market conditions.
Yes. Foreign citizens can buy property in Georgia without restriction, including remotely. A qualifying purchase from $150,000 may also support a residence-permit application, subject to current rules; apartments here start from around $200,000.
After handover (from 2030), owners will be able to place their unit in a managed rental pool and receive roughly 60% of its rental revenue. Rental income is not guaranteed and depends on occupancy and market conditions.
No. FK Development is focused on the Batumi Island project and does not take third-party construction contracts or develop in other cities.