Project 2 billion U n Durres' DS, government passes agreement with investor

Infrastructure and Energy Minister Belinda Balluk said this agreement is an important step towards moving forward with the project and that for the first time, Albania is a holder of shares in such a venture.

Balluk said that the coast and the sea will continue to be state property despite investment, while regardless of how much private state capital or investment it will not be obliged to do so by holding the same shares.

The government approved the framework agreement between the Albanian government, Eagle Hills Real Estate Development and Albanian Seaports Development Company.

All this is a framework agreement related to the construction of the Water Ballina in the Durres Port, as well as the yacht port. The form of state co-operation in this agreement was approved through state participation in a joint society with the private investor.

This private society and the public will develop the project and benefit from it by keeping support measures.

For the first time, the Republic of Albania is a holder of shares that belongs to such a large, 2 billion-euro investment project. It is predicted directly and indirectly to employ 12,000 people. This project puts Albania on an international tourism map.

This draft agreement clearly reflects the rights and obligations of each party participating in the project.
We should say that the agreement will be passed to parliament after it is passed to commissions.

State turnout is proposed at such levels that do not eliminate or significantly reduce the investor's operational risk.

Despite the private shareholder's actions, it could add capital in years to the state shareholder's quota will not change. The respective sea coast and the coast remain unsurpassed state property. They'll be subject to environmental cleaning” Balluk said.

According to her, private and public property around the area will suffer growth.
The activity of the port of Durres will not be interrupted or hampered during the implementation phase. In the first phase of implementation, those parts that do not affect port work are projected to be used.

The minister also spoke of the new port project to be deployed in Porto Romano underlining that the project is located at an advanced stage.

Durres Marina & Project Yachts

In December 2020, a co-operation agreement between the Albanian government and the United Emirates moved to the Assembly to gain approval.

Its focus was three points: the reconstruction of the Durres Port, investment opportunities in the tourism, agriculture and logistics industry in Vlora, Saranda and Ksamil, and tourism investments in the Permet area.

The year 2021 was to begin with sensational news of how the largest company that transformed Dubai, EMAAR would implement the Durres project.

Government delegations in Dubai and vice versa were not absent, giving voice to the project that will be implemented in Albania, as did the Mohamm Alabbar, known as the founder of “Emar Properties”, the developer of Burj Khalifa, Dubai Marina and Dubai Mall.

As the project, for its own size, investment value, but even accusations that have accompanied it on the implementing company, which is not directly. EMAAR, viewed somewhat with conservative eyes, Albanian institutions insist it will become reality.