Tirana Residential Park “In Harmony with Nature�
55,000 square meters, zoned mixed use Commercial, Residential and Retail
Tirana Residential Park “In Harmony with Nature”
Photo from 2009
Prime development land near Tirana International Airport with a total area of 65,877 square meters (two plots in all – see next paragraph), zoned for mixed use and located near Tirana International Airport, is available for purchase. This green-field property will be developed as a mixeduse(commercial, residential, retail and office). It is in an excellent location directly on the highway to the Tirana International Airport, one kilometer from the site. The location is 20 minutes from the center of Tirana (Albania’s capital with about 1.2 million inhabitants), and 30 minutes from the important Adriatic seaport city of Durres, linked by a modern four-lane motorway. CLEAR TITLE: This land is in two adjoining portions, one of 55,377 square meters, and the other of 10,400 square meters. Legal title to the land has a freehold status.
GREAT DEVELOPMENTS NEARBY: This location has excellent potential for development, as an upscale residential and commercial area, or as a purpose-build corporate, medical or other specific purpose buildings.
The area along the new Airport Highway is now undergoing quality development, with several major developments along this corridor: the new Tirana Business Park just across the airport highway (a $100 million development by Lindner of Germany, who also developed a similar, very successful Sofia Business Park and two business parks in Bavaria); the new headquarters of Porsche in Albania; the largest private university in Tirana is across the street; another university is in the planning stages 300 meters away. A Hilton Hotel, next to the airport and 1 km from the TRP site has been approved.
SECOND-TO-NONE-INFRASTRUCTURE: Tirana’s International Airport was upgraded significantly under a concession granted to Hochtief of Germany, who in 2007 completed the airport expansion (a EUR 70 million project) and the new Airport Highway. The Airport Highway, presently a modern 2-lane road, will be expanded to a 4-lane divided highway in the future.
Other major highway infrastructure in the area (which will pass two km from the subject property and connect with the new north-south highway corridor – passing just two kilometers from the subject property. When completed, this new access ring-road will link Albania to Croatia, Germany and Austria along the Adriatic Sea to the north, and to Greece to the south.
This same corridor also joins the new west-east highway to Kosovo, which in the future will extend through Serbia linking with a major highway running through Bulgaria to the Black Sea and Turkey. ECONOMIC FUNDAMENTALS: Albania is a functioning parliamentary democracy and market economy, a member of NATO and soon to become a candidate to join the European Union. Most EU relevant laws, such as those governing property, companies and taxation, have been passed during the past decade and meet international and European Union standards. Photo of Tirana Business Park under construction across the street from Tirana Residential Park.
Logo 2009 The Albanian economy grew rapidly every year during the period 2001-2008, and even during the world economic slowdown, the Albanian economy continues to grow moderately (Albania was the only the only country in Europe, together with Poland, which did not go into recession in 2009). The subject land is located in the Commune of Presa (region of Tirana), whose Mayor and municipal council are very supportive of the development of such properties by foreign investors.
Tirana Residential Park “In Harmony with Nature� The 55,000 sq. m. parcel is located to the left of the cars