Government, shareholder in the luxury resort of Sazan - The new company that will represent the country in this project is registered
The Albanian state will be an active participant in the giant tourist project expected to be built on the island of Sazan. A new company named “Albania State Development & Real Estate” has been created to represent the state’s interests in this initiative and was officially registered on June 26 at the National Business Center.
According to the registration data, this company will be tasked with the management and development of state properties, with the aim of increasing their value and using them efficiently. One of the main functions will be to participate in strategic projects such as "Tourist Resort - Sazan Island", but also in any other project entrusted to it by state authorities. The company will also have a mandate to design and implement constructions with an impact on urban development, as well as to supervise the implementation of contracts related to the project.
The company is fully owned by the Albanian Investment Corporation (AIC), which has an initial capital of 50 million lek. The company will be managed by Julian Adili, currently one of the senior managers in the legal structure of AIC.
Meanwhile, the American company linked to Jared Kushner, son-in-law of US President Donald Trump, has been announced as a strategic investor for this project, which dates back to a government decision on December 30, 2024. The investment is expected to reach a value of 1.4 billion euros, and will extend to about 45 hectares, which constitute approximately 8% of the island's surface.
This project is expected to include a modern marina, a luxury residential complex, high-standard accommodation units, as well as gastronomic and recreational spaces. Among the positive effects expected from this development is the employment of more than 1,000 people during and after the construction of the resort.
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