Eyeing to get your hands in one of Albania’s public properties along the coastline, but lack the funds or experience?
All you need is a project worth €5 million and a few promises to open up new workplaces and investments.
That will grant you the strategic investor status.
Consequently, you can make a financial profit out of Albania’s beaches, lakes, rivers, forests, agricultural areas, and other natural assets.
The state guarantees that it will use public funds to build streets, bring electricity, build a sewage system and provide water supply all the way to your venture.
The highly contested law on strategic investment, ratified in 2015, boosted property abuses in some of Albania’s most coveted areas.
130 hectares of land along the coastline were put at the disposal of these strategic investors in the last five years, coinciding with the date when the law entered into force.
The most sought-after areas are Gjiri i Lalzit to Hamallaj in Durres, while in the south it’s pretty much all the beaches from Palase to Ksamil.
Until now, these properties, and the money accorded by the state to build hotels and touristic resorts have instead helped raise private villas sold for the benefit of the constructor only, without actually bringing any revenue or boost to tourism.
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