According to Tirana Times, Albania's Strategic Investments Committee has granted strategic investor status to Atlantic Incubation Partners for a €1.4 billion luxury resort on Sazan Island.
According to Tirana Times, Albania's Strategic Investments Committee granted strategic investor status to Atlantic Incubation Partners LLC, the company of Jared Kushner, for a planned luxury eco-resort on Sazan Island. The project is valued at €1.4 billion and would cover 45 hectares of the 562-hectare island, a former closed military base. It is expected to include a marina, luxury residences, fine dining and high-end accommodation. The ten-year status gives the company advantages such as expedited permits and licences and access to state land needed for the project. It comes with conditions: the company must meet action points set by the government and formalise a cooperation agreement with the Albanian authorities, which is subject to parliamentary approval. Detailed plans and legal documentation must be submitted within 60 working days of receiving notice. The project is planned in three phases, though timelines remain vague, and it is to be carried out through a joint venture with state entities including the Albanian Investment Corporation and the Albanian Seaports Development Company. Tirana Times notes that the president signed a decree in December removing parts of the island from military jurisdiction to clear the way for private investment. The report places the project among other large coastal developments, including a €2 billion investment in the Durrës waterfront by UAE-based Mohamed Alabbar. Some critics quoted in Albanian media described the timing of the approval as transactional, while the government calls the project a major opportunity for tourism. A second, still conceptual Kushner idea in Zvërnec near Vlorë was also mentioned.