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Why is it risky to invest money in the Durres Marina? Alabar Marina

2026-05-14 23:38:28Biznes SHKRUAR NGA REDAKSIA VOX
Rama, Alabbar and the Durres Marina project

The news from the investigative show Piranja on Syri TV that two facilities in the marina that Mohamed Alabbar is building in the Port of Durrës have sunk up to 30 centimeters, passed without any major fuss for the public and for those who have so far invested nearly 40 million euros in the first constructions that have begun.

But, when the National Inspectorate of Territory (IKMT) confirmed this fact, concluding that the special inspection group set up to verify the situation on the ground had found that two objects had suffered subsidence, the first questions began to arise: what will happen next?

The dilemmas become even greater if you read an article by the economic magazine Monitor, which has watermarked the balance sheets of the company "Durrës Marina sha", where it turns out that most of the risk in this adventure was not taken by the investor from the Persian Gulf, but by Albanian citizens who bought before the pits were dug, or even without obtaining a permit.

"Durrës Marina sha", the company that is managing the strategic project of the yacht marina in Durrës, according to data from the balance sheet, has collected around 42 million euros from customers in the period 2023-2024, mainly from the sale of "air" apartments, writes Monitor.

It is also learned that Eagle Hills Real Estate Development, which represents the investment of businessman from the United Arab Emirates, Mohamed Alabbar, has invested only 7 million euros during this time.

Looking at these figures for the construction of the first buildings, it is easy to understand how, in an agreement with the Albanian government, which owns one-third of the shares, the entire burden of risk has been placed on the shoulders of the Albanian buyer. But the story does not end here.

The scandalous contract that was also voted on in parliament foresees that citizens will be given their money without any guarantees. It stipulated that 40% of the value of the apartments must be paid before obtaining a building permit.

So practically the client is unprotected and he assumes all the investment risk.

In this case, the Albanian citizen is abused twice, not only as a customer but also as a taxpayer of this country. Because, first, the land of the port of Durres was given away for free.

Secondly, because this "strategic investment" that is also exempt from the environmental impact tax (about 7% of the estimated sales value), still applies the highest prices on the market.

Thirdly, because the propaganda that Alabari and the Emaar group would invest over 2 billion euros turned out to be a huge fraud and the construction is being done with Albanian money and by local companies.

Fourth, for this manipulative bubble sold as a foreign investment, the public is losing the strategic port of Durrës, the largest in the country, when it is still unknown when and how much its replacement in Porto Romano will cost.

"The story of the Durrës Marina project exposes the losers not only those who bought apartments, but all Albanian citizens. An asset worth hundreds of millions of euros, such as the Port of Durrës, is being demolished, with Albanian tax money another project is being financed that costs 390 million euros for Phase One alone, to pave the way for the investment of 13.3 million euros (along with the capital it has added in 2025) by the Dubai company, Eagle Hills Real Estate!" , writes economic journalist Ola Xama on her Facebook.

This multiple abuse, where both the public loses and those who invest their money are at high risk, has now been compounded by the fear of the sinking of two of the first buildings that have begun to be built, confirmed by the National Inspectorate of Territory.

But, although this institution has left urgent tasks for the performance of immediate technical reinforcements by subcontractor companies that have been recruited at extremely cheap rates, this is not the only problem of this investment. The environment in this area, as the company itself has admitted, is very polluted by the port's coal, huge amounts of money must be spent on cleaning the beach, as the soil layers are contaminated, the sea is red-flagged, as a result of high amounts of solids and plant residues due to sewage discharges. Can they be returned to normal?

This is another risk that every client who brings money to the port of Alabar must consider, even if it is overcoming the fact that they are doubly abused, both as a client who takes on all the risk and as a citizen of this country that is poorer, thanks to the extortion of public property./ Lapsi.al


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