Durres Marina, the developer of the Durres Yachts & Marina seaside residential complex and yacht port in the Albanian city of Durres, has received a capital increase of 7 million euros ($7.7 million) for its luxury superyacht project. The majority owner, Eagle Hills Real Estate Development, made the contribution, meeting the conditions set out in an agreement signed with the Albanian government.
The capital increase brings Durres Marina’s total capital to 749 million leks ($7.8 million/7 million euros). This increase will not affect the distribution of ownership, as Eagle Hills holds a 67% stake in the company, while the Albanian Seaports Development Company retains a 33% interest. Additional funds from Eagle Hills were used to increase the minority shareholder’s share capital in proportion to its equity stake.
The Durres Yachts & Marina project aims to transform the Durres port into a luxury superyacht marina at an estimated cost of 2 billion euros. The recent capital injection will contribute to the first phase of the development.
The initiative is expected to attract affluent individuals and enhance the luxury tourism sector in the region. Durres Marina’s proximity to the Albanian coast makes it an appealing destination for yacht owners and enthusiasts looking for high-end facilities and services.
With this capital increase, Durres Marina is well-positioned to further develop the Durres Yachts & Marina project and create a world-class destination for superyachts. The project aligns with Albania’s efforts to boost its tourism industry and establish itself as a sought-after destination for luxury travelers.
As the development progresses, it will be interesting to see how the luxury superyacht marina contributes to the local economy and elevates Albania’s profile in the international yachting community. This venture has the potential to attract high net worth individuals, promote job creation, and generate revenue for the region.
Durres Marina’s partnership with Eagle Hills Real Estate Development and the Albanian government’s support signifies their commitment to the successful realization of this ambitious project. The increased capital investment demonstrates confidence in the long-term potential of Durres Yachts & Marina and the opportunities it presents for Albania’s economic growth.
In conclusion, Durres Marina’s capital increase of 7 million euros marks a significant milestone in the development of the Durres Yachts & Marina luxury superyacht project. This investment will propel the initiative forward, attracting affluent individuals and positioning Albania as an attractive destination for luxury tourism. With a focus on quality and world-class facilities, Durres Marina aims to create a prestigious yacht port that will contribute to the growth of Albania’s tourism sector and bolster the local economy.
