The Strategic Investment Committee in Albania, led by Prime Minister Edi Rama, has granted strategic investor status to a company connected with Jared Kushner for the construction of a tourism resort on the island of Sazan.
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According to the decision, the project on Sazan Island will involve an investment of 1.4 billion euros, with construction expected to cover 8% of the island, or approximately 45 hectares.
The KIS decision outlines that the "Sazan Island Tourism Resort" project meets the criteria outlined in the Albanian legislation for strategic investments, with an estimated investment value of 1.4 billion euros.
The decision also outlines specific steps that will be undertaken by state institutions in Albania to assist the company in securing the necessary land, documentation, and other required actions. These steps are expected to be completed within the next three months. In return, the company will be required to sign a contract with the Albanian Strategic Investment Corporation and the Albanian Seaports Development Company. Additionally, the company will be responsible for securing the necessary water and energy resources for the project.
The strategic investor status will be granted for a 10-year period, with the construction expected to be divided into three phases, as specified in the decision. The project is anticipated to significantly boost tourism in Albania, with the potential for a major impact on the region's economy and infrastructure.