History

BALFIN Group activity started in 1993 in Vienna, Austria, when Samir Mane started its first business. Currently BALFIN Group is present and operating in Austria, Albania, Kosovo, Bosnia and Herzegovina, North Macedonia, Montenegro, and the Netherlands. The Group employs over 5,000 people, whose dedication and passion remain key to our success story.

• • 1993
    Alba Trade was founded in Austria, operating in the consumer electronics market as an official distributor of household electronic goods.
    Neptun opens its first store in Albania and in a short period of time becomes the biggest network of electronic stores in Albania.

• • 1998
    Neptun starts operating in North Macedonia, following its success in Albania.

• • 2002
    Mane TCI starts commercial operations, specializing in real estate development and management.

• • 2005
    QTU (Universe Shopping Center) opens to the public in Tirana, becoming the very first shopping mall to operate in Albania.
    Euromax was the first chain of supermarkets to launch in Albania, turning rapidly into the largest one. In 2007, BALFIN Group decide to sell Euromax to Delta Maxi Group.
    Fashion Group Albania is the first retail franchisee management company in Albania introducing 9 distinguished international brands.

• • 2007
    ACREM (Albanian Commercial Real Estate Management) is established, providing management services for commercial real estate, including shopping malls.
    Neptun opens its first store in Kosovo.

• • 2008
    Elektro-Servis was established to provide professional after-sale and repair services for electronic products in Albania.
    Alcred represents one of the largest residential and service areas developed in Tirana, Albania – approximately 1,000 apartments and total surface of 100,000 sqm.

• • 2011
    Jumbo in a franchise deal with Kidzone (owned by BALFIN Group) opens its first megastore in Tirana, Albania.TEG (Tirana East Gate), the largest shopping mall in Albania, opens to the public bringing many new international brands.

• • 2012
    Skopje City Mall becomes one of the most important investments of BALFIN Group in North Macedonia. Hystead Group acquired SCM in 2017.

• • 2013
    ACR Holding’s shares are acquired by BALFIN Group. Renamed AlbChrome, in a short period of time the company becomes one of the most important companies in Albania and one of the largest producers of ferro-chrome in Europe. In January 2022, the company was sold to the conglomerate Yildirim Group.
    Elektro-Service opens in North Macedonia providing service for after-sale repair of electronic products.
    Tirana Logistic Park, an investment of €43 million, starts operating as the first logistic park in Albania.

• • 2014
    AES (Albanian Energy Suppliers) was established to provide electricity to Albanian companies. Its activities include importing, exporting and trading electricity. In 2022 the company was sold.
    Tirana Business University is part of BALFIN Group’s investment in Education. The Group owns a minority share of this university that is focused on business-oriented disciplines.
    Elektro-Servis opens in Kosovo.
    Jumbo enters Kosovo’s market with its first megastore.

• • 2015
    Carrefour Albania becomes part of BALFIN Group via a franchise deal.
    Green Coast Resort and Residences construction phase begins, the very first high-end tourist resort in Albania.

• • 2016
    SPAR supermarkets’ chain enters the Albanian market as part of BALFIN Group through a franchise agreement.

• • 2017
    Jumbo opens its first store in Bosnia and Herzegovina.
    Stella Mare is established as a joint venture of Milsped and BALFIN Group, representing Maersk Line Company in Albania.
    SmartPoint is established in electronic commerce sector, specifically selling smart devices, telecommunication services, as well as offering after-sales support.
    Skopje East Gate, one of the largest real estate development projects in North Macedonia, begins the construction phase. The project is composed of a shopping mall area, a residential area and business area.

• • 2018
    BALFIN Real Estate and Hospitality is established to provide quality service in the real estate sector, offering premium properties to Albanian and international buyers.
    Dyqan Taxi, the biggest online retailer in Albania, is acquired by BALFIN Group and is rebranded as Aladini. This company was sold in 2020.
    NewCo Ferronikeli, one of the biggest producers of nickel in Europe and the biggest exporter in Kosovo, becomes part of BALFIN Group.
    TH&B Immo was founded in 2018 and operates in the development of real estate sector in Austria. It focuses on the development of residential areas for housing, villas, and resorts.

• • 2019
    Tirana Bank’s acquisition marks an important milestone for BALFIN Group – its entrance in the banking industry.
    PJ 137 Living represents the second investment of BALFIN Group in real estate development in Vienna, Austria.
    Jumbo enters in in the Montenegrin market.

• • 2020
    OnSolution, previously a division of Neptun Albania, was established as a company providing customer care, loyalty programs, and market research services. OnSolution manages Happy Card, the biggest loyalty program in Albania.

• • 2021
    East Gate Mall’s inauguration, besides representing an important milestone for BALFIN Group, positions the group as the largest foreign investor in North Macedonia.
    M Gallery Boutique Hotel construction begins, as a cooperation of BALFIN Group with Accor.
    Univers City, a new concept of life with diverse housing and service units as well as complete infrastructure for a comfortable living in a residential community.

• • 2022
    Scan TV marks an important milestone for the Group, the first investment of BALFIN Group in the media sector.
    Balfin Real Estate and Hospitality –Switzerland& North Macedonia will enable residents in respective countries to have access to the real estate market of Albania, focusing on seaside estates.
    West Park, a unique commercial facility aiming to tailor to customers’ daily needs through well-known brands, officially opens in Korça, as only the first investment of its kind in BALFIN Group’s portfolio.
    Alba-Trade extends its activity to Croatia as the official authorized wholesale representative of the technology giant Samsung Electronics.
    BALFIN-tech AG in Switzerland represents BALFIN Group’s debut in the medical technology and innovation industry, operating in the research and development of breakthrough healthcare solutions.

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