A multinational real-estate development company will invest 2 Billion USD to turn the port of Durres into one of the largest and most modern marine ports in Europe. Emaar Properties is a world-renowned real estate company, responsible for the development of Burj Khalifa and several other massive developments in other countries. Its founder, Mohamed Alabbar, is an Emirati businessman and a visionary global entrepreneur. After extensive discussions with the Albanian Government, Mr. Alabbar announced the 2 Billion USD investment earlier this month.
In 2003, the Government of the United Arab Emirates donated circa 20 Million USD for the construction of the Kukës International Airport Zayed, which began its commercial operations this April. The development of the Port of Durres by a world-famous company is set to increase Albania’s visibility in the region and its attractiveness to foreign investors. In an interview with a national news broadcaster, Mr. Alabbar stated that he viewed Albania as part of the “new Europe”, and he is determined to make a positive contribution to the economic development of the country. Official statistics show that Albania is becoming an ever-more popular destination for tourists who almost double in number every year.
With this project, Mr. Alabbar seeks to turn Albania’s gorgeous 450 Km Coastline into a tourist-wonder, and talks for another development project further in the south are currently taking place. Emaar Properties has had several successful experiences with investing in other countries in the region such as Serbia. Mr. Behar Bejko, a career diplomat and former Albanian Ambassador to the United Arab Emirates, has stated that the development of the Port of Durres is a strategic investment that will aid the development of the Albanian economy and the modernization of the tourism sector. Ever since the decision was made public by the Albanian Government and Emaar Properties there has been an increasing interest of UAE citizens to visit Albania.
