The resort in Sazan is declared a strategic investment - Decision/Project worth 1.4 billion euros will extend to 45 ha, 1,000 people employed
The project for the construction of a tourist resort on the island of Sazan has received the status of a strategic investor, as an integrated tourist project of great importance for the country. The newly published decision was taken by the Strategic Investment Committee, headed by Prime Minister Edi Rama, on December 30, 2024, accepting the proposal of the company Atlantic Incubation Partners LLC made public in March last year.
According to the decision, the investment value is expected to be 1.4 billion euros, while during the investment and operation phase, the number of employed people is expected to be 1,000. The project is intended to be developed on an area of 45 ha or 8% of the total area of Sazan Island of 562 ha.
The SIC decision states that the investment project is proposed as an integrated project with a tourist marina as well as elite accommodation structures, high-standard residences, gastronomic areas and recreational areas with services in their function. It also aims to improve and repair the current marina, including expanding the docking space, improving the location of the ferry pier and anchoring the island ferries.
The benefits that the Albanian state will have have not yet been determined, while the decision states that the form of the state's participation in this investment will be realized through the creation of a joint legal entity composed of the Albanian Investment Corporation and the Albanian Seaports Development Company, in the capacity of the state party, and the investing entity. It is also added that the proposed project will be subject to a review and analysis process to assess the conditions and criteria for the possibility of the Albanian state's co-participation in this strategic investment.
The American company is owned by Jared Kushner, the son-in-law of the president-elect of the United States of America, Donald Trump, while the project will maintain "strategic" status for a period of 10 years.
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