Durres Yachts and Marina project near Albania's capital Tirana will have 12,000 homes plus a new marina to accommodate the largest superyachts. Photo: Eagle Hills
Durres Yachts and Marina project near Albania's capital Tirana will have 12,000 homes plus a new marina to accommodate the largest superyachts. Photo: Eagle Hills
Durres Yachts and Marina project near Albania's capital Tirana will have 12,000 homes plus a new marina to accommodate the largest superyachts. Photo: Eagle Hills
Durres Yachts and Marina project near Albania's capital Tirana will have 12,000 homes plus a new marina to accommodate the largest superyachts. Photo: Eagle Hills

Abu Dhabi’s Eagle Hills launches $2.5bn development in Albania


Fareed Rahman
  • English
  • Arabic

Abu Dhabi-based private developer Eagle Hills has launched a $2.5 billion project in Albania, as the company continues to expand its real estate portfolio globally.

The new development in the ancient city of Durres, about 34 kilometres from the capital Tirana, will have 12,000 luxury homes, in addition to a brand new marina for accommodating the largest superyachts in the world, the company said on Tuesday.

Hotels and hotel apartments, retail units, parks as well as a terminal for international cruise liners — the first of its kind on the Albanian coast — will also be part of the Durres Yachts and Marina project.

The company, however, did not provide the construction timeline or how it plans to finance the new development along the Adriatic Sea.

Durres, with a 3,000-year history, is home to the largest port in Albania. The city is also known for ancient archaeological sites — including the famous amphitheatre of the Roman Emperor Hadrian, with 15,000 seats.

“This development is the pinnacle of luxury living, while at the same time bringing immense new investment, infrastructure and long-term growth opportunities to Albania,” said Mohamed Alabbar, chairman of Eagle Hills.

The new project will have a brand new marina for accommodating the largest superyachts in the world. Photo: Eagle Hills
The new project will have a brand new marina for accommodating the largest superyachts in the world. Photo: Eagle Hills

This is a “groundbreaking transformational project that took two years of planning and design by internationally acclaimed architects, engineers, public realm consultants and artists”, he said.

Eagle Hills is currently developing mixed-use projects in a number of countries, including Morocco, Bahrain, Jordan, Serbia and the UAE.

In 2020, the company announced a new residential project at its $1.2 billion Maryam Island waterfront development in Sharjah to boost its portfolio.

Eagle Hills is developing a new project in Albania to boost its real estate portfolio globally. Photo: Eagle Hills
Eagle Hills is developing a new project in Albania to boost its real estate portfolio globally. Photo: Eagle Hills

Maryam Island is a mixed-use project based in Sharjah’s Al Khan and Al Mamzar districts. In addition to residential units, the island will also have four and five-star hotels, waterfront food and beverage outlets, a souq, cafes and retail units.

The company is also investing in Ethiopia. In 2018, it announced a 360,000-square metre mixed-use development with 4,000 residences in the capital Addis Ababa.

Eagle Hills and Emaar Entertainment also formed a joint venture to develop an aquarium and underwater zoo at Marassi Galleria shopping mall in Bahrain two years ago.

“We are not just opening up the destination for high-end visitors, but we are also creating the Monaco of the Adriatic,” Mr Alabbar said about the new project in Albania.

Pari

Produced by: Clean Slate Films (Anushka Sharma, Karnesh Sharma) & KriArj Entertainment

Director: Prosit Roy

Starring: Anushka Sharma, Parambrata Chattopadhyay, Ritabhari Chakraborty, Rajat Kapoor, Mansi Multani

Three stars

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kandahar%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Ric%20Roman%20Waugh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EGerard%20Butler%2C%20Navid%20Negahban%2C%20Ali%20Fazal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202.5%2F5%3C%2Fp%3E%0A
The Lowdown

Kesari

Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra

 

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Updated: November 29, 2022, 9:18 AM`