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Albania Estate We promise you a piece of the Mediterranean Albania Property Guide 2010 Albania Property Group − © January 2010 Albania Property Guide 2010 Contents About Albania & Albanians 1 International integration 4 Economic data 5 Why should I invest in Albania? 6 Albanian Cities 7 Questions & Answers 11 Conclusion 20 Albania Property Group − © January 2010 Albania Property Guide 2010 Scanderbeg square in the center of Tirana – Capital of Albania About Albania and Albanians History of Albania Albania covers a total area of 28,748 km², with a coastline of 362 km. Albanian Coastline borders in the Adriatic and Ionian Seas. The territories of present day Albania have been inhabited as early back as 100.000 years ago. At the Location of Albania in Europe turn of the third millennium B.C. an Indo - European MONTENEGRO population settled there. As the result of the mixture, KOSOVO a population incorporating the unique cultural and linguistic characteristics of the whole Balkan Peninsula Shkodra (pelages) was created. Lezha Laç Peshkopi ADRIATIC Based on this ancient population, the Illyrian people SEA MACEDONIA Durrës developed through the second millennium and the first TIRANA Kavaja Elbasan century B.C. After its fall in the year 30 B.C. Illyrian Lushnje came under the control of Roman Empire. With the Pogradec division of the Roman Empire (395 A.D), Illyrian Fier Berat Korça Vlora became a part of the Byzantine Empire. Tepelena The country has suffered continuous invasions over IONIC SEA Saranda the last 1000 years and by the end of the 14th century GREECE Albania was occupied by the Ottoman Empire. Map of Albania Albania Property Group − © January 2010 1 Albania Property Guide 2010 Mosaic at the National Historic Museum in Tirana The subsequent efforts and insurrections For about 50 years, the regime applied for independence eventually brought the policy of self-isolation, leaving the about the proclamation of the indepen- country in great economic poverty when dence of Albania in 1912. After 1912 till it finally emerged from isolation in 1991. the end of the First World War, the The principle of self-reliance applied country was attacked by neighboring by the Communist regime prohibited countries. foreign loans, credits and investment. After eleven years of monarchy the From 1991 untill 1997 the Democratic country was occupied by Mussolini Party led the country. After the unrests of forces in 1939, putting the end of 1997 due to the failure of pyramidal monarchy. In 1943 the armies of Hitler schemes the Socialist Party with its occupied the country. coalition was in power until 2005. After The resistance against foreign invasion the last elections on 3 July 2005 The was known as the Anti–Fascist National Democratic Party with its coalition is Liberation front. The Communist turn back in power. Albanian policy party took power in November 1944, intends to integrate the country into when the foreign armies were expelled. European Community and the Alliance Shortly thereafter, a totalitarian regime of NATO forces. was established under the communist leader Enver Hoxha. National Hero, Gjergj Kastrioti Skenderbeu Declaration of Independence Monument in Vlora Mother Albania Monument Albania Property Group − © January 2010 2 Albania Property Guide 2010 Traditional houses in Berat − a unique cultural heritage Population Albania has a population of 3.64 Million (est. July, 2009) but only 3.1 Million are Emigrants 0.54M residents and the difference is made of Albania: 3.1M Albanian emigrants which live and work mostly in Greece and Italy. Kosovo: 1.87M In addition to the Albanians living 0.52M Macedonia in Albania, there is about 2.6 Million additional Albanians living in Kosovo (88% − 1.87Million) and Macedonia Total Albanians in region: 6 Million (est) (25% − 0.52 Million) Capital Natural Resources Tirana is the capital and the largest city of Mining: Chromium, Copper, Iron ore, Albania. Modern Tirana was founded in Nickel, Bauxite. 1614 by Sulejman Pasha. Tirana became Energy: Petroleum, Natural gas, Coal. Albania's capital city in 1920. Natural: Limestone, Salt, Timber, Water. As of 2009, the city's urban population is estimated at 900.000 inhabitants. Albania Property Group − © January 2010 3 Albania Property Guide 2010 Paving the way for European Integration Parliamentary Democracy Member NATO − April 2009 Albania to become a member of the European Union by year 2014-15 Credit rating Political Risk: 3 (1 = best; 7 = worst), In global financial market: B1, Moody’s classified as a country of “stable outlook” (Dec. 2009) The enactment rule of law is foundation of free society All new laws are in accordance with western standards Next elections in June 2013 Europe - Albania’s long time aspiration International Parameters Ease of Doing Business rank: 2010 index climbed to 82 2009 index: 86 2008 index: 135 Corruption Perceptions Index (CPI) score Transparency International 2009: rank – 95, score 3.2 2008: rank – 85, score 3.4 More links about Albania indicators http://www.worldbank.org.al http://www.doingbusiness.org http://www.transparency.org Albania is a member of the UN since 14 December 1955 Albania Property Group − © January 2010 4 Albania Property Guide 2010 Economic data Exchange rate (26 March, 2010) EUR/ALL 139 USD/ALL 104 EUR/USD 1.34 The budget deficit is fund 87% by domestic financing (Treasury Bills, Bonds, Credit, Privatization receipts) and 13% foreign financing Interest rates on BoA's Instruments ALL, REPO 5.25% Annual yield for government bonds at the latest auctions are: 3 December 2009, 1 Y bond, 9.24% 17 November 2009, 2 Y bond, 9.60% (fix coupon) 1 October 2009, 3 Y bond, 9.90% (fix coupon) Foreign Exchange Reserve at the end of 2008 marked the level of 1,695 million EUR, enough to cover 4.2 months of imports of goods and services January-October 2009 the trade deficit is 266,427 million LEK (2,050 m EUR). (Source: INSTAT) Flow of goods in foreign trade Export (FOB): 103 b lek Import (CIF): 431 b lek Albanian current Currency Trade balance: -328 b lek, coverage indicator 23.9% Commercial Banks (2009) Alpha Bank – Albania National Bank of Greece (NBG) Intesa Sanpaolo Bank Albania Banka Kombetare Tregtare – BKT Banka Popullore (BP) Procredit Bank (PCB) (commercial Credins Bank (CB) bank/ microfinancing) Credit Bank of Albania (CBA) Raiffeisen Albania EMPORIKI Bank (Albania) Tirana Bank (TB) (Part of Piraeus Bank) First Investment Bank, Albania (FIB) Union Bank (Albania) (UB) International Commercial Bank (ICB) Italian Development Bank (IDB) Albania Property Group − © January 2010 5 Albania Property Guide 2010 Albanian Southern Riviera – unlimited potential for development Why should I invest in Albania? Domestic economy & exports are expanding Established trading patterns with the EU Gateway to the Balkans Free Trade Area - Total labor costs are lower than comparable countries Social security ‘on costs’ amount - 31% of gross wages Adaptable and flexible skilled labor force Extensive language skills, a lot of the younger generation are college graduates Privatization, Concessions, Reforms BOT/PPP sectors & projects Investment opportunities through privatization Government assets / real estate properties (Feb 2010) Road construction The whole program is expected to finance 1,000 – 1,500 kilometers of roads (signed a crediting agreement with the EBRD) Energy Hydro Power Plant Renewable energy Health care Water Mines Telecom infrastructures Albania’s lush northern mountains Albania Property Group − © January 2010 6 Albania Property Guide 2010 Pedestrian bridge over the “Lana” river in Tirana Tirana – Albania’s capital city Tirana enjoys a beautiful setting between the ranges of Dajti Mountain from one side and the coastal plains on the other one. This relatively new city was founded in 1614 by Sulejmen Pashe Bargjini, feudal lord of that time, and proclaimed capital in 1920. However the area has been inhabited as early back as the Neolitic period. With a population of approx 800,000 Vast urban development in Tirana inhabitants, Tirana is growing rapidly, and is a busy commercial and adminis- trative center with several comfortable hotels, restaurants, discos, pubs as well as modern facilities for conventions and conferences. About 70% of the businesses are located in Tirana area. It is always nice to have a walk in the “Scanderbeg” square in the center of Tirana Grand Park, lying in the southern part of the city and extending over an area of 250 hectares with an artificial lake included. It has 120 kind of plants, decorative shrubs and flowers of various colors. “Grand Park” in the southern hills of Tirana Albania Property Group − © January 2010 7 Albania Property Guide 2010 Ksamil Beach in Saranda Saranda – The Pearl of the South Saranda, the gateway to the southern Due to its location and warm weather Albania, is a small town located between Saranda is one of the most attractive high mountain and the Ionian Sea. tourist town in Albanian Riviera, where honeymooners traditionally spend their The name Saranda derives from an early holidays. Christian monastery dedicated to Santi Quaranta (Forty Saints). Located in front of the sea and along the main promenade there are some hotels Located on the shores of Ionian sea, in and restaurants which offer you catering front of Greek island of Corfu, Saranda facilities and accommodation. Daily is characterized by a Mediterranean ferryboat links Saranda with the nearby climate and warm sea waters. Greek island of Corfu. “Monastery Bay” in Saranda “The Blue Eye”– unique natural spring in Saranda Butrinti – largest archeological site in Albania Albania Property Group − © January 2010 8 Albania Property Guide 2010 Ksamil Beach in Saranda Durrësi – Albania’s oldest city Durres is an ancient city, founded in The most important archaeological 627 B.C. and known by the names site is the Amphitheatre, the largest in Epidamnus and later on Dyrrachium. the Balkan Peninsula, built in the 2nd Durres is the second largest city of century B.C.
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