Reports ALBANIA MARKET REPORT
hotel in 2025 in Tirana after signing a franchising agreement with InterContinental Tirana. Te hotel will have 300 rooms and suites and will be located near the main Skanderbeg Square in the city. Te company also has a franchise agreement with Mediterranean Investment Group to open the 140-room Crowne Plaza in Durres which is due to open in 2024 and debut IHG’s entry into Albania.
Other international chains include Maritim hotels from Germany which entered the market in 2019 with a five-star hotel in Tirana followed by a coastal hotel in 2021.
Local hotel groups have also been busy opening hotels and the Via Hotels group for example has opened more than 10 hotels under its brand over the last couple of years.
Meanwhile Albania is also investing in infrastructure whilst there is a huge upsurge in Marina development projects. Construction work has already started on a Marina project near Saranda plus two Marina projects in Vlore and north of Durres.
Saranda Marina is a development by Concord Investment which began last year in Limioni Bay and will include hotels, residential properties, and yacht port. Te development will also include retail and the first cinema in Saranda. Te location is five minutes’ walk from the Zero Zero Beach and two minutes from the planned yacht port.
Te project is due to be completed in 2025. Concord Investment represents a group of companies and is one of the largest investment entities in Albania and headquarters in Tirana. It was founded in 1991.
Vlore Marina project is a mixed-use urban development which will offer sea view apartments and a high-end Marina for yachts and super yachts with 438 berths. Tere will be two five-star branded hotel developments and Lungomare promenade to connect residential use to the beach and services along the way. Te project was granted to Marina Projects and investment is around €23.1m.
Te Durres Yachts and Marina is set to be the largest super yacht Marina in the Med and is being developed by Eagle Hills, an Abu-Dhabi based private real estate investment and development company.
Te €2.1bn project is set to transform the port into an important destination for the Mediterranean region and is said to be the greatest foreign investment in Albania to date. It will include 12,000 luxury Marina homes, retail, dining, parts and open spaces, hotels and a terminal for international cruise liners and is being labelled as the second ‘Monaco’.
Durres is about 34km from Tirana and is thought to be the oldest city in the world dating back to
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