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Under verification by SPAK, 4 AM expands its "empire", "becomes" a hotel in Saranda

2026-01-12 10:19:08Biznes SHKRUAR NGA REDAKSIA VOX

The company 4 AM SHPK, beneficiary of millions of euros in funds from public tenders, especially in recent years, has closed a very successful year 2025, not only expanding its activity in the energy sector, gaining control of several companies operating in this field, but has also recently entered the tourism sector.

Ekofin.al has consulted a decision of the Competition Authority, which has authorized the proposed concentration for the acquisition of control of the company Heaven Beach SHPK by the company 4 AM SHPK, through the purchase of 100% of the capital shares from two citizens, mother and daughter, Antoneta Maksakuli and Maria Maksakuli.

The decision was made with Decision No. 1223, dated October 29, 2025, after analyzing the legal documentation and the impact on the relevant market.

According to the decision of the Competition Commission, the transaction consists of the full transfer of the capital of the company Heaven Beach SHPK to 4 AM SHPK, making the latter the sole shareholder of the target company.

Heaven Beach SHPK is a new company, focused on the activity of construction and hotel services, with the main objective of developing a 3-story hotel in the city of Saranda, in an area with tourist and development potential. In short, 4 AM has taken ownership to further develop a 3-story hotel in one of the most coveted areas of Saranda.

Who is 4 AM SHPK and how has its activity expanded?

4 AM SHPK is registered as a limited liability company, with extensive activity that includes electrical works and installations, construction, import-export trade, as well as infrastructure and energy projects.

This company currently owns controlling stakes in the companies Iliriada SHPK, MD Green Energy SHPK, O-SP Albania SHA and Green Energy Plus SHPK, marking a significant expansion of its portfolio during 2025. It even gained control of all of these companies during the past year.

According to the Competition analysis, the main activity of 4 AM SHPK is focused on the field of electrical works and construction, while through controlled companies it also has a presence in the import, fuel storage and electricity production markets.

Under verification by SPAK, 4 AM expands its "empire",

4 AM among companies under verification by SPAK

4 AM recently appeared on the list of companies in the focus of SPAK, attracting the attention of BKH investigators due to tender maneuvers and suspicious connections. It is worth noting that 4 AM SHPK has often been mentioned in the media as a company indirectly linked to entrepreneur Bashkim Ulaj, although in official documentation the ownership results in the name of citizen Ardit Metaliaj.

According to data and payments from the State Treasury, in recent years the company 4 AM shpk has benefited from over 140 million euros of public money, through tenders suspected of being predetermined and often reported with red flags. And part of this money the company apparently intends to invest in tourism, through the purchase and development of a hotel in one of the most coveted areas of Saranda. 


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