The Albanian government has extended the deadlines for the 1.4 billion euro project to develop a luxury resort on the island of Sazan, citing technical, legal, and infrastructural difficulties that have slowed the implementation of the original plan.
The new decision by the Strategic Investment Committee at the end of 2025 modifies several key deadlines set a year earlier in the 2024 decision that granted it strategic investment status. Institutions acknowledge that the action plan was not completed on time due to the project's complexity and coordination between institutions and the American investor Atlantic Incubation Partners LLC.
The changes directly affect the project's negotiation and preparation phase. The deadline for the investor to submit documentation is extended to 90 days from the previous 60, while the period for negotiating the agreement is increased to 120 days, with the possibility of an additional 120-day extension.
The tasks for state institutions have also been revised. The Ministry of Economy is given more time to consolidate property and transfer assets to the Albanian Investment Corporation, while the deadlines for setting the conditions for developing the tourist marina and including the beaches in the official list have also been adjusted.
A significant change relates to the costs for clearing the area of pyrotechnic hazards. Unlike the initial decision, which stipulated these costs would be covered by the investor, the burden now falls on the Ministry of Defense.
The document highlights that progress has been made in several areas. A memorandum of understanding has been signed between the parties, 10 rounds of negotiations have been held, and expertise has been secured to protect the state's interests. The Ministry of Defense has completed the asset inventory and identified the costs for clearing the area, and property registration has also been carried out.
The project for the development of Sazan Island envisages an investment of around 1.4 billion euros for the construction of a tourist complex with marinas, hotels, residences, and other tourist services on an area of approximately 45 hectares. The development will take place on Sazan Island in Vlorë, which is currently under the administration of the Ministry of Defense and partly a protected marine and natural area.
The investment is proposed by the American company Atlantic Incubation Partners LLC and is being developed in collaboration with Albanian state structures through the Albanian Investment Corporation and the Albanian Seaports Development Company. The project holds strategic status.