UAE developer plans US$2.5bn Albanian superyacht marina

An Emirati global property development firm has announced a US$2.5bn superyacht marina aimed at making the ancient Albanian city of Durrës the ‘Monaco of the Adriatic’ Sea. Eagle Hills, the Abu Dhabi-based private real estate investment and development firm that focuses on the development and revitalisation of “integrated communities that provide smart innovation, high-quality products, and services,” according to its website, said in a news release that the proposed Durrës Yachts & Marina will be the largest superyacht marina in the Mediterranean when completed, but provided no timetable for the project.

The scope of the project includes 12,000 luxury marina homes, a state-of-the-art marina able to accommodate the world’s largest superyachts, the first-ever cruise liner terminal on the Albanian coast, exclusive beach and marina clubs, retail and dining space as well as luxury hotels and “branded hotel residences”.

“This development is the pinnacle of luxury living, whilst at the same time bringing immense new investment, infrastructure and long-term growth opportunities to Albania,” said Eagle Hills chairman, Mohamed Alabbar. “We are proud of our partnership with the extraordinary citizens and government officials of this remarkable nation on a groundbreaking transformational project that took two years of planning and design by internationally acclaimed architects, engineers, public realm consultants and artists.”

Located just 34km from the capital city of Tirana, Durrës is home to the largest port in Albania and claims to be the oldest city in the world with a 3,000-year history dating back to 627 BC. Completion of the project, Eagle Hill believes, will make it the most modern community in the region.

“Durrës Yachts & Marina will be designed as one of the most sustainable new cities in the world, incorporating eco-friendly practices, green spaces and smart technology to reduce air pollution and CO2 emissions, enhance air quality, and protect natural resources,” the news release claims, through infrastructure that includes energy, water and traffic management, and the latest means of urban mobility.

“We are not just opening up the destination for high-end visitors, but we are also creating the Monaco of the Adriatic,” Alabbar added. “You have this incredible history in the background, alongside what will be a whole new luxury destination. We’ve done a lot of special projects over the years across the world, but I have no doubt this is right up there with the very best of them.”

Eagle Hills is currently developing mixed-use marina projects in Morocco, Bahrain, Jordan, Serbia and the UAE that “draw on the latest technologies to build smart and sustainable projects that add significant value to the local economy.” 

Source: IBI News