New 438 berth marina in Albania

Albanian investment group Balfin recently announced that it is investing around €350m (US$381m) on the development of a new tourism project in Vlora that will include a 438-berth marina.

“Vlora Marina replaces the city’s old and depreciated industrial port, turning it into a modern port [for] yachts and megayachts, thus transforming it into a powerful revenue-generating engine for the economy,” says Balfin in a statement

Under the plans, the project in Vlora will be a public-private partnership (PPP). It will also include the construction of hotels, residences and commercial outlets.

Vlora is the third-largest city in Albania with a population of more than 100,000 residents, according to the state-run Institute of Statistics (INSTAT). It is also home to the country’s second-largest port.

Balfin claims to be one of the leading investment groups in the Western Balkans. Established in 1993, the business is active in the wholesale and retail banking, real estate, asset management, tourism, media and logistics industries.