For decades, BALFIN Group has been managing investment portfolios in real estate in Albania, North Macedonia, Austria, and Kosovo.
Group’s asset in real estate include touristic residences, shopping malls, retail parks, hotels and logistic parks
ACREM (Albanian Commercial & Real Estate Management), established in 2007, is the Albanian leading company in real estate management. ACREM introduced and implemented the highest standards and the best international practices in managing commercial, industrial, and residential properties.
The company currently manages two shopping centers in Albania (TEG, QTU), residential buildings (apartments, villas), logistic parks, and offices. With a large network of professionals, ACREM provides a broad range of services to enhance the management of property assets.
QTU is the first shopping center in the history of Albania and its opening set off a major turning point in the retail system of the country, by revolutionizing the way Albanians used to shop. BALFIN Group completed the construction of Universe Shopping Centre in 2005.
During 2018, the shopping center was renovated and expanded, with an additional investment of €11 million, a completely new modern interior design, new brands and new services, including Cineplexx cinema and the children`s playground area. Additionally, QTU provides new gastronomy concepts indoors and outdoors with a spectacular terrace view. The total Gross Leasable Area is 27,150 m2 and it is visited by 7.1 million visitors annually.
TEG is the largest shopping center in Albania, whose grand opening dates in 2011. With 150 stores and 2,000 parking lots, TEG is an attractive destination for customers from Tirana, Elbasan, and Kosovo as well. Settled in building surface of more than 95,700 m2, this shopping center represents a whole lifestyle journey. It is designed to be easily differentiated for the diversity of services and products, the introduction of exclusive brands, entertainment areas, restaurants, coffee shops and maximum comfort for customers. TEG is the host of many well-known international brands such as Inditex Group with premium brands (Zara, Massimo Dutti, Bershka, Pull & Bear, Zara Home and Stradivarius), Cineplexx, InterSPAR, KFC, Burger King, Nike, Jysk, Levis’, Reply, Tommy Hilfiger, Original Marines, Okaidi, Swarovski, Neptun, Mango, Carpissa, etc.More that 9.6 million visitors visit the shopping mall annually.
Very soon, the actual GLA of 42,000 m2 will be further expanded to approximately 55,000 m2, creating more room for retail units, bars and restaurants, as well as entertainment areas.
East Gate Mall is the new urban center of Skopje and the third shopping mall of BALFIN Group. It was inaugurated in October 2021, and it has already become a reference point for the citizens. A €103 million investment that welcomes 12 million visitors annually, East Gate Mall offers the largest commercial spaces and is the only fifth generation shopping center in the region .
East Gate Mall stands out for its great dimensions, with 5 floors, a total area of about 160,000 m2, a Gross Leasable Area of over 57,000 m2 and 2,000 parking spaces. Its 220 stores present a choice of over 600 brands, 40 of which are introduced for the first time in the country.
East Gate Mall houses the largest Zara store in the Balkans (Zara and Zara Home), as well as regional and world-renowned brands such as Massimo Dutti, Oysho, Reserved, Mohito, Sinsay, Cropp, House, Armani Exchange, Calvin Klein, , Pandora, Mango Man-Woman-Kids, Patrizia Pepe, Twinset, XYZ, Valentino, Armani Exchange, Hugo, Tommy Hilfiger, Gant, Timberland, De Facto, Babor Cosmetics, Kiko Milano, L’Occitane, Prenatal, The Athlete’s Foot, Intersport, Super Tinex Market, Neptun Electronics and many more.
Retail parks are a novel concept that BALFIN Group introduced in Albania, with the first of its kind being constructed in Korça and named West Park. A few selected brands will be accommodated in this mall, carefully handpicked to meet the basic consumer’s daily life requirements by providing products in key sectors, such as the food industry, toys for children, electronic devices, fashion items, and home interior.
Well-known local brands will sit side by side with four international brands in a building that occupies an area of 7,124 m2, composed of a combination of light-weighted construction materials that take into consideration the traditions of the city. The physical premises respect the environment and complement the experience of visitors. The location of West Park is strategically chosen to establish the basis for the re-qualification of the entire area, so that the project itself becomes a catalyst for the development of Korça’s district.
This is a commercial complex that will be introduced in Korça, soon to be replicated all over Albania.
Balfin Hospitality, newly established alongside Balfin Real Estate, has in its history a track record of success in providing expertise and practical experience in the consultancy of hotel management and services, management of assets and properties.
The hospitality advisory team takes care of every step; from the review of feasibility studies or space planning that will improve the operational efficacy and efficiency of the building, to the improvement of general spaces.
Balfin Hospitality has all the necessary infrastructure and experience to facilitate the management of tangible and intangible assets. The company offers its expertise in any hospitality venture, starting from exclusivity, design, construction, and recognition of a hotel, to working with management entities in the hotel classification system.
Green Coast – MGallery is the latest project of BALFIN Group in the tourism industry in partnership with Accor. The hotel will offer a variety of spaces for visitors, such as a restaurant, lobby with exclusive views of the surrounding nature, executive club lounge, VIP club, banquet, and conference hall, swimming pool as well as a dedicated space in the beach area. The 112-room hotel located in Palasë, Vlora, will welcome the first visitors in April 2024, and will mark an important moment for the Albanian tourism industry.