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, the Netherlands, the USA, and Canada. The group employs over 5,000 people, whose dedication and passion remain key to our success story.
1993
Mr Samir Mane founded Alba-Trade in Vienna, Austria, specialising in the trade of electronic equipment and home appliances. Simultaneously, Neptun commenced its electronic equipment retail activities in Tirana, Albania.
1998
Neptun expanded into North Macedonia, replicating its success in Albania in the electronic equipment trade. While in 2007, it entered Kosovo, and in 2024, Bosnia and Herzegovina.
2002
BALFIN Group entered the real estate development industry with the establishment of Mane TCI, which later evolved into two separate entities: Balfin Development and Balfin Construction. Today the Group is active in this industry in Albania, North Macedonia, Austria, Canada, and the USA.
2005
The first shopping mall in Albania, QTU, was inaugurated, revolutionizing the shopping experience. Currently, the BALFIN Group owns three of the largest shopping malls in the Western Balkans. In the same year, the Group established Albania’s first supermarket chain, Euromax, and founded Fashion Group Albania, introducing well-known Western fashion brands.
2007
To enhance the management of commercial, logistics, and residential spaces, ACREM (Albanian Commercial Real Estate Management) was created. Neptun also entered the Kosovo market, becoming the first electronics network in the Western Balkans to operate in three countries.
2009
Rolling Hills Luxury Residences is Albania’s first premium residential community, introducing a new concept of modern living in the country.
2011
TEG, the largest shopping centre in Albania and one of the largest in the region, was inaugurated. The Jumbo network was launched in Albania, later expanding to Kosovo (2014), Bosnia and Herzegovina (2017), and Montenegro (2019).
2012
Skopje City Mall opened its doors as the biggest shopping mall in North Macedonia. In 2017, this shopping centre was sold. Tirana Logistic Park, the first logistics park in Albania, began operations.
2013
BALFIN Group acquired AlbChrome, marking its entry into the mineral extraction and processing industry. This company was sold to an international group in 2022.
2014
BALFIN Group has commenced construction of Vala Mar Residences, a premium gated community located on the Adriatic Sea, just 45 minutes from Tirana. The Group became a shareholder in Tirana Business University, directly contributing to the education of future generations.
2015
Construction of Green Coast, the largest tourism investment in the Western Balkans, has begun. This project, with an investment exceeding 1 billion euros, includes hotels, residences, services, and various other facilities
2016
SPAR was introduced to the Albanian market, and today it stands as the largest international supermarket network in the country.
2017
Began the construction of Skopje East Gate, which includes a shopping and entertainment center (East Gate Mall), a residential complex, and an office park. It represents the largest foreign investment in North Macedonia.
2018
BALFIN Group acquired NewCo Ferronikeli in Kosovo and, within four years, transformed it into one of Europe’s leading ferronickel production companies. It was later sold to an international conglomerate.
Balfin Real Estate was established, quickly becoming a key player in the real estate market, with offices in Albania, Switzerland, Kosovo, and North Macedonia. In the same year, BALFIN Group expanded its real estate development activities to Austria, launching its first residential building complex.
2019
BALFIN Group entered the banking industry by acquiring Tirana Bank, Albania’s first private bank, which has since become the fastest-growing bank in the country.
2020
Happy was established, offering loyalty and personalised marketing services with its key product, Happy Card.
2021
Construction commenced on the M-Gallery hotel located in Green Coast, in collaboration with the Accor Group. Construction began on Univers City in Tirana, a unique multi-functional residential area featuring modern urban infrastructure.
2022
Construction began on Vlora Marina, the largest marina in Albania and one of the most modern marinas in the Mediterranean. West Park, the first retail park in Albania, opened in Korça, introducing a new retail sales concept.
2023
On its 30th anniversary, BALFIN Group decided to consolidate all CSR activities under the umbrella of a foundation. As a result, the Mane Foundation was established to more effectively manage and address social investments. The Group entered the U.S.A. real estate market with the establishment of BALFIN Americas, focusing on real estate projects across the United States. Balfin Asset Management was established, providing premium services in managing tourist residences and facilities.
2024
The first real estate project in Canada commenced, marking the establishment of Balfin Canada and expanding BALFIN Group’s presence to its 11th country. Galeria by TEG, the only shopping mall in the Albanian riviera and La Vista a commercial and leisure facility both located in Green Coast were opened to the public.
Green Coast Hotel – MGallery Collection, developed by BALFIN Group, represents a transformative milestone in Albania’s hospitality industry as the first MGallery hotel in the country. Situated at the edge of the Green Coast promenade, within Albania’s only Blue Flag-certified beach, the hotel reflects the renowned standards of Accor Group. Featuring 131 elegantly designed rooms and suites with panoramic views of the Ionian Sea, the hotel offers a range of premium amenities, including a five-star wellness spa and four distinct dining and leisure venues: Mosaic Restaurant, Mente Lobby Bar, Vela Beach Bar, and Bliss by the Pool. A perfect blend of natural beauty, historical significance, and refined hospitality, Green Coast Hotel – MGallery Collection enhances Albania’s reputation as a premier Mediterranean destination while setting new standards for sustainable, high-end tourism in the region.
West Park, established in 2020, is Albania’s pioneer in the retail parks sector, introducing the innovative “big box” shopping
concept, by offering a lively shopping experience featuring multiple retailers, entertainment, and dining options, all within modern
facilities and convenient parking. Its first location in Korça set a new standard for retail in the region, delivering not just
convenience but a vibrant and engaging customer experience. Building on this success, West Park is actively expanding to new
cities across Albania and North Macedonia, aiming to reshape the regional retail landscape through innovation. Our focus on
sustainability and eco-friendly solutions ensures that we not only meet customer need, but also contribute to a better future
shopping experience.
Founded in 2018, Balfin Austria focuses on real estate investments that combine distinctive architectural design with the highest quality standards. Operating through its subsidiaries, Balfin Austria has developed six projects, each aligned with European sustainability benchmarks, embodying BALFIN Group’s commitment to innovation, responsibility, and excellence at the heart of Europe.
Skopje East Gate is the visionary company behind North Macedonia’s first integrated mixed-use project, Skopje East Gate. Combining East Gate Mall, East Gate Living residential complex, and East Gate Business offices, the development delivers a 360- degree urban lifestyle. The project transforms the heart of Skopje with modern retail, residential, and business spaces, reflecting BALFIN Group’s commitment to shaping vibrant, future-ready city environments across the Western Balkans.
Flying Tiger Copenhagen is a Danish lifestyle brand renowned for its unique, affordable products that inspire creativity and joy. Offering a diverse range, from home décor to stationery and toys, the brand’s playful and colorful designs bring everyday happiness to customers worldwide. Through a strategic partnership with BALFIN Group, Flying Tiger Copenhagen is set to expand its presence in the Western Balkans, establishing 50 stores across Albania, Kosovo, North Macedonia, Bosnia and Herzegovina Serbia, and Montenegro.
Neptun International is a leading retailer of consumer electronics and home appliances in the Western Balkans. Established in Albania in 1993 and expanded to North Macedonia (1998), Kosovo (2007), and Bosnia and Herzegovina (2024), Neptun operates 96 physical stores supported by a dynamic e-commerce platform. Serving over 400 business partners, the company focuses on delivering a seamless omnichannel experience, offering customers innovative shopping solutions and maintaining its leadership across diverse markets. Neptun also implements a loyalty scheme that rewards customers across countries. Additionally, Neptun provides strategic franchise opportunities empowering businesses to leverage its brands, innovation, and market leadership.
Neptun is a major distributor of consumer electronics and home appliances across Albania, North Macedonia, and Kosovo. Partnering with global brands like LG, Bosch, Philips, Samsung, Beko, SEB Group, Electrolux, HP, Apple, and Dyson, while also developing its own brand Fuego, Neptun delivers a full range of quality products. Neptun proudly extends its expertise beyond individual consumers to wholesale and B2B services. Catering to the dynamic needs of the HORECA industry, Neptun provides tailored solutions that empower businesses with top-tier products and seamless supply chain support.
Founded in 2008, Elektro-Servis SH.P.K., is a leading provider of household and electronic appliance maintenance services in Albania, with regional expansion in North Macedonia and Kosovo. As the exclusive after-sales service partner for Neptun International, the company offers reliable repair and maintenance services, ensuring customer satisfaction long after purchase. Elektro-Servis holds exclusive servicing rights for renowned global brands like Samsung, LG, Sony, and Beko, among others. With a team of certified professionals, Elektro-Servis delivers high-quality technical solutions, demonstrating expertise, efficiency, and adaptability to meet the evolving demands of modern technology and product innovations across the region.
