Introduction
Albania is next-door to Montenegro and benefits from the same dramatic Adriatic coastline. Illyria Resort and Spa is situated in Lalezit Bay, a wide crescent-shaped sweep of white sands and blue seas. The bay is just 30km from the capital Tirana and a new road currently under construction will cut the journey time of 1.5 hours to just 30 minutes. As the closest beach to the capital and with such a short transfer time from the country’s only international airport, Illyria Resort and Spa could realistically see rental demand from both business travellers and tourists alike.
We are offering just 34 units within this development at the pre-offplan price of €645 per m2.
Many of you have invested in pre-offplan deals with us before. For those who haven’t, it is where we sell properties at just above cost price in order to raise finance for the development. Investor monies will be used as seed finance. The developer accepts a reduction in his end profit in return for receiving 100% of the price upfront, and you receive a hefty discount, adding equity from the start.
The developer plans to build a mixed-use residential and commercial project consisting of circa 240 units, with properties staggered up the hillside to make the most of the sea views and to offer added privacy. Facilities planned for the Illyria Resort and Spa development include a large pool, landscaped gardens, spa and treatment centre.
As demand for our previous deal was so high, we will be taking reservations on a first-come basis. Investors who send in their £2,500 reservation fee first will be given priority choice of the available units. We will need to receive 100% of the price within 14 days of the contract so you will need to move quickly to secure these incredibly low-priced properties.
About the developer of Illyria off plan property investment deal
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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, both modern apartment blocks aimed at Albania’s growing middle classes. Each offer high quality residential apartments with shops and other onsite amenities. They also have a development near Vlora.
World Class Projects Managers
The developer will tender out the project management of the development to an established and reputable company, adding a further level of experience and expertise to the project. The developer is in late stages of negotiation with global consultants Gleeds to fulfil this role.
Gleeds is one of the world’s leading management and construction consultants, with over 120 years experience in the building and construction industry. The company employs over 1200 people in 13 countries and 5 continents.
Gleeds’ Mainland European business has successfully delivered projects with a construction value exceeding €12 bn over the past decade. The Illyria Resort and Spa project would be managed by a Tirana based team of internationally experienced personnel and locally recruited professionals.
For more information see Gleeds’ website at www.gleeds. com/worldwide