Interpreting the development trajectories of Tbilisi, Yerevan, and Baku requires a careful understanding of the urban policies that have shaped them from the post-Soviet period to the present. The neoliberal approach has shaped their growth, encouraging the emergence of private, including international, entrepreneurial groups and the formation of a new urban market. Still, the resulting construction of infrastructure and living spaces has followed very different paths linked to specific socio-economic contexts. The article aims to explore the similarities and differences between the cities, trying to explain the incidence of political events and economic programmes in urban regeneration and the contentious and poorly managed dialogue with residents.