• 22 hectare tax-free economic zone established around port of Durrës, Albania, expected to generate millions of Euros in new investment
• Albania ranks higher than Germany, the United States, and Eastern Europe & Central Asia in ‘Index of Transaction Transparency’ (Santander Trade)
• Part of ‘Golden Triangle’, Lalzit Bay Resort and Spa offers limited 25% discount to encourage investment

The announcement of a ground-breaking tax free zone being established by the Albanian government around the port city of Durrës marks an exciting new phase for the country, as it beckons more and more foreign investors to look to its shores. The Albanian Ministry of Economy is set to create a 22 hectare economic zone whereby businesses, both home-grown and overseas-founded, will be able to operate without having to pay tax.

The Durres zone will be established for a 35-year period and the move will also create new jobs and positively impact on both the regional and national economy. Paying special attention to logistic services, such as imports and exports, the loading of ships and the processing of products, this pioneering step looks set to open Albania’s doors to growing international interest, further building relations with neighbouring Italy and beyond, ensuring Balkan borders become increasingly transparent within Europe and further afield.

The regional tax haven that will be created by this new move is also a further step in establishing this part of the world as a growing economic powerhouse, as Peter Walshe, Marketing Director of Albania’s first high end resort, Lalzit Bay Resort and Spa, explains,

“The founding of the new Durrës tax haven is certainly a very good thing for Albania’s industry in general terms as the city is the long-established gateway to the Balkans for sea-freight and, in turn, international investment. The economic zone will also further play into the notion of the country’s ‘Golden Triangle’ of which Lalzit Bay is a vital part alongside Durrës and the Albanian capital of Tirana.

“These three pillars of Albania’s economic miracle are driving the country forward: towards an already emerging bright future of financial strength, economic optimism and hopeful EU ascendancy.”

In line with this, Santander’s Trade arm has noted Albania as ranking higher than Germany (5.0), the United States (7.0), and Eastern Europe & Central Asia (7.0) in terms of its ‘Index of Transaction Transparency’, with a rating of 8.0, where ‘the greater the index, the more transparent the conditions of transactions’. This indicates that the country has overcome historic concerns and is now striving ahead in economic gains and practices, encouraging FDI and international focus.

As Albania’s very first luxury resort, Lalzit Bay Resort and Spa is capitalising on this growing demand by offering excellent affordable investment opportunities for overseas and domestic buyers. With a wide range of property options available, from one and two bedroom apartments to three or four bedroom villas with private swimming pools, all of the highest quality and luxurious in design, Lalzit Bay Resort and Spa is the ideal investment choice in a growing market.

The Resort also boasts a wide range of five-star amenities, such as a beach club, tennis courts, boutique shops and a range of carefully selected restaurants and bars, all set within ranging grounds where properties are built at low density.

As part of the market’s expanding encouragement of investment, the developer at Lalzit Bay Resort and Spa is currently offering up to 20% off of selected final apartments in Phase 1 of the project, meaning that a one or two bedroom apartment can be snapped up from as little as £39,000 until the offer ends on 31^st May 2015.

For more information, contact Lalzit Bay Resort and Spa on +44 845 125 8600 or visit www.lalzitbay.com 

• Albania witnesses 167% increase in foreign visitors arriving for holidays and day trips in Q3 2014 (INSTAT)
• Host of new flight routes, linking Tirana with range of new European destinations
• Albania 40.77% cheaper than Italy in Consumer Price Index (Numbeo ‘Cost of Living Index 2015’)

An eye-popping 167% increase in the number of foreign visitors arriving in Albania for holidays and day trips in Q3 2014 is yet another positive indictor of the bright future ahead for this Balkan nation. An impressive increase on figures from one year previous, according to the country’s national statistics office, INSTAT, visitor numbers from outside of the country now stand at 1,042,844, having been just 390,454 during the same period in 2013.

Alongside this, INSTAT’s ‘Quarterly Statistical Bulletin’ revealed more detail about where these tourists were coming from, with Western Europe seeing a 24.7% increase in visitors, and interestingly, East Asia and Pacific combined with the South Asian region seeing a mammoth 42.34% growth in the numbers visiting Albania in Q3 2014, compared to the third quarter of 2013.

Peter Walshe, Marketing Director of Albania’s first high end resort, Lalzit Bay Resort and Spa, comments,

“As recent figures have shown, Albania is looking to be one of the stand-out destinations for travel this year and as the country begins to fully recognise the potential of its tourism market, this is sure to be just the beginning. In line with this, we are certainly seeing a growing number of enquiries from people interested in buying property in the beautiful coastal region of Lalzit Bay, for both their own use and having recognised its investment potential. Albania is proving a popular choice for buyers in a wide range of nations.”

Within this context, it is easy to see why summer 2015 will see the launch of a host of new flight routes, linking Albania’s capital, Tirana, with even more key cities in Europe and beyond. A code-share deal between Czech Airlines and Travel Service, for example, will see new flights start between Prague and Tirana, and there will also be charter flights launched from Košice airport in Slovakia into Albanian capital. Alongside this, Kuwait investors are in talks about the potential launch of the new ‘Albanian Airways’ plane which will marry-up Tirana with European countries that are home to Albanian diaspora.

With this expansion extending into autumn too, Italy’s Air Vallée is also set to start scheduled flights between the Italian destinations of Rimini, Salerno, Bari and Pescara, flying into Tirana, making the Balkan country even more accessible to its neighbouring nation.

Looking ahead, and in line with Walshe’s comments, the World Bank are working on preparing their next Country Strategy for Albania for the next five years, with a considerable part of the focus being on coordinating and maximising growth in the tourism sector. Yet, it is not simply ease of accessibility that is drawing a growing number of visitors to Albanian shores. The country is becoming renowned as an incredibly affordable destination to visit, which given current economic conditions making many people more budget aware, ensures it is becoming the top choice for a growing flank of holidaymakers and investors alike.

Numbeo’s Consumer Price Index, part of their ‘Cost of Living Index 2015’, showed that Albania is some 40.77% cheaper than Italy which, given that it is just 45 miles across the Adriatic and boasts similarly stunning beaches and wonderful climate, ensures it is clear why it is drawing attention.

For those looking to capitalise on this growing popularity, Lalzit Bay Resort and Spa is offering a range of beautifully-designed properties as part of a five-star, beachfront resort. Boasting luxurious facilities and standout views of the stunning golden sand beaches and breathtaking Dajti mountain range, Lalzit Bay Resort is just 30 minutes from Durrës and features a beach club, range of top restaurants and bars, tennis courts and boutique shops.

Properties are built at low density and to the highest of standards and range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas with private pools, inspired by California’s elegant and modern beachfront properties. Properties are priced from €35,000 to €360,000.

For more information contact Lalzit Bay Resort and Spa on +44 845 125 8600 or visit www.lalzitbay.com