The main goal was to combine the analysis of the contemporary elements of risk inventories, seismicity and vulnerability, so as to assess seismic hazards and risks for Tbilisi. The inventories of the built environment were studied and converted into a GIS with the following categories: base map; building material types; number of storeys; number of entrances; condition of buildings; construction period of buildings; photos of old buildings; critical facilities, such as electricity, water aqueducts and supply, and transportation systems; high loss facilities; aerial photos; and election precincts with population sizes. Two maps of seismic site conditions were derived. The first map was constrained from topographic data at a large scale (1:10,000) using a technique proposed by Trevor I. Allen and David J. The second map was created on the basis of the geo-engineering map at 1:30,000 scale. Due to significant differences between these maps, the second one was chosen for the Seismic Hazard Assessment. The seismic hazards, expressed in PGA, were calculated using the program EZFRISK for a 10% probability of exceedence in 50 years and a 2% probability of exceedence in 50 years, using the Global Models of ground motion prediction equations by Boore and Atkinson (2008) PGA, and Campbell and Bozorognia (2008) PGA–SA. The classification of buildings was carried out using the inventory map. The assessment of seismic risks to houses in Tbilisi was carried out on the basis of the European Macro-seismic scale. Relative social risks and relative economic losses for 2% and 10% probability SH were estimated.