Introduction
Situated on Albania’s Adriatic coast, the Cape Rodoni Resort & Spa development has what we think is an unbeatable pre-offplan entry point of just €588 per m2. This is a rare opportunity to buy quality frontline European investment property at such a low price.
The site looks over sandy Lalezit Bay, just 20km from the country’s only international airport and 35km from the capital Tirana. A new motorway link is currently being constructed that will slash the journey time between our site and the capital Tirana from 1 ½ hours to just 30 minutes. The quick journey time to the capital and the country’s only international airport will increase rental demand for our new high-end development from local commuters, tourists and business travellers alike.
The developer has agreed to release 40 strictly limited units at the price of €588 per m2. There is a mix of 40m2, 60m2 and 80m2 units available. And in a deal unheard of in Albania we’ve negotiated all R2i investors a 3-year 8% rental guarantee.
Albania is a country looking to the future and the time is right to look for investment property early on in this emerging nation’s development cycle.
The Cape Rodoni site is located on a wide sweep of bay overlooking the Adriatic Sea, 14km north of Durrës. Positioned above its own 150m private beach and surrounded by hilly land, the landscape ensures against over-development.
The site is 19,600 m2 in size and has outline planning status granted; it is included in the local council’s tourism master plan. Thanks to the new road, it would be reasonable to suggest that the apartments could be used by visitors to both Tirana or Durrës, as a pleasant seaside alternative to the accommodation currently offered.
As this is offered as a pre-offplan deal there are at present no architect’s plans for the site, but we have included some conceptual designs to give an idea of the look and feel. This should give investors a good idea of the quality and style involved. The building spec at Cape Rodoni is for high quality apartments, providing Albania with one of the first seaside resorts of its kind. It will also prove extremely attractive to the local market.
Cape Rodoni Resort & Spa will have excellent on-site facilities including swimming pool, beach volleyball and a beach club. Other features planned include: beautiful gardens, restaurant, bar, and parking.
Ready2invest is offering only 40 units at a pre-offplan price of just €588 per m2, in a market where values are closer to €900-€1,000 per m2.
There are 3 types of units available. Studios of 40 m2, 1-beds of 60 m2 and 2-beds of 80 m2. (As is the custom in Albania these sizes are gross, so they include terraces and a share of common space.)
About the developer
Balkimo is a well-established estate agency and developer in Albania.
The company was founded in 2004 by French and Swiss partners, both of whom have excellent track records and experience. Marin Le Corre was a vice-president at banking giant Merrill Lynch for many years before moving to Albania where he established Telco. He moved into property in 2004 when he formed Balkimo, now the largest estate agency in Albania, with his French associate Ludovic Laventure. In addition to their thriving estate agency, they have also overseen several major developments in Albania.
In Tirana they have two projects under construction - modern apartment blocks aimed at Albania’s growing middle classes. Both offer high quality residential apartments with shops and other amenities onsite. Terra Nova is close to Tirana’s new ring road: http://www.terranoval.com/ and Fortesa is situated on the main road into Tirana city centre: http://www.fortesal.com/
They also have a development near Vlora. Soleal is a holiday resort development of 100 apartments situated in the beautiful southern seaside town of Orikum, 5km from Vlora. Designed to offer its owners comfort, peace and tranquillity; high quality build standard and beautiful sea views over the Ionian Sea, the stunning Sazan Island and the mountains around the bay: http://www.soleal.net/.