Durres Marina increases investment
The developers of the Durres Yachts and Marina Project have increased the capital of its multi-billion euro project in Albania…
Durres Marina has increased its capital following a €7m investment from its majority shareholders, Eagle Hills Real Estate Development, a subsidiary of Emmar Group.
The ownership structure remains unaffected, with UAE-based Eagle Hills holding a 67% stake and state-owned Albanian Seaports Development Company 33%.
The increase in capital follows a previous agreement with the Albanian government for the first phase of the development of the Durres Yachts & Marina project, which is predicted to cost over €2bn.
The latest development from the Durres Marina is part of the larger story of Albania establishing itself as a superyacht hub in the Adriatic.
Durres Marina is one of many that the Government of Albania has expressed commitment to undertaking. As highlighted in the detailed ‘First National Document on Spatial Planning: ‘Shqipëria 2030’, published by the government of Albania in 2015, Albania appears committed to re-establishing itself as a vital hub for trade and tourism in the new Europe.
In 2021, SuperyachtNews spoke exclusively with Belinda Balluku, Albania’s minister of infrastructure and energy, about how the development supports a new generation of development in the region.
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