State-owned residences in Velipoj? and Vlor?, previously under the Albanian government, are being converted into luxury hotels under 10-year usufruct agreements, with monthly rental fees ranging from €8,500 to €15,000. According to the Albanian Investment Corporation, the objection period has ended, clearing the way for the contracts to be finalized.
Velipoj? Project
In Velipoj?, the selected consortium includes:
Xhenis sh.LLC
Saunders Architecture
Smart Studio
VOGT
Adnan Kastrati
Melia Hotels International (a major international hotel group)
Their proposal includes a monthly rent of €15,000, significantly exceeding the minimum threshold of €2,880.
The agreement includes preferential rates for selected guests, as determined in collaboration with the government. The design retains the historic villa intact, while adding:
An underground parking area
30 hotel rooms
A luxury spa
Publicly accessible areas on the ground floor
A conference room
The architectural proposal prioritizes guest experience over superficial luxury.
Vlor? Project
In Vlor?, the chosen consortium is led by Edil Al, with the participation of:
Zdrava
Studio Arga
Studio Precht
Studio V10
Jeshile
Ledia Kostandini
Lindita Pelivani
Altisfer Golloshi
Holtzbau Majer
Melia Hotels & Resorts
This group offered a monthly rent of €8,500, slightly above the minimum of €8,130.
Their plan includes:
A narrow tower facing west
A pool that connects the building’s two main sections
A design philosophy based on “experiential luxury” rather than traditional opulence
There are also plans to build treehouse-style accommodations. Given the large size of the site and the expected slow return on investment, future residential development is considered likely.
The contracts allow for renewal until full return on investment, and upon expiration, new agreements may be signed to continue management.
Ivanka Trump’s Sazan Island Resort
It is worth noting that Ivanka Trump has confirmed that she and her husband Jared Kushner are developing a super-luxury resort on Sazan Island, Albania, aiming to bring globally recognized hospitality brands to this untouched Mediterranean destination.
The couple is in the final stages of preparing a master plan for the resort, which will include:
Luxury facilities under the Aman brand
Dining services provided by New York’s renowned Carbone restaurant group
The British newspaper The Guardian featured the project, citing Ivanka Trump’s statement about the island’s natural beauty:
“We were speechless at the pristine nature of Sazan.”
Jared Kushner added:
“We immediately knew we wanted it to become part of our story.”
According to reports, it took three years for the Albanian government to grant initial approval for the development. The resort is expected to cost approximately $1 billion and will target high-income international tourists.
(*) Information sourced from the Office of Economic and Commercial Affairs in Tirana.
