Club Med quits project over property ownership dispute
On the 16th of June France’s resort chain Club Méditerranée declared that it has quit its project for the operation of a holiday complex in southern Albania due to long dispute over land ownership.
‘There’s no project for a Club Med in Albania,’ Florence Le Gall, Club Mediterranee’s director of regional development, wrote to villagers claiming ownership of the land at Kakome, about 200 kilometres south-west of the capital, Tirana.
This is a real blow to Albania’s hard work in attempting to attract major Western investment and tourists. At the same time this is also a clear indicator that there is a problem with land ownership in certain areas of Albania.
The European Union (EU) has in the past urged Albania to solve the problems over land ownership in order to attract foreign investors and meet the requirements for membership in the EU.
The 75 Million Euro holiday complex was to be built by Albanian construction company Riviera and operated by Club Med. It is understandable that after a long 5 year dispute Club Med has decided to cancel its project in Albania.
Above is an illustration of the planned holiday complex that was canceled.
It is difficult point a finger and decide who was to blame for this, however the site was supposed to be public property and there shouldn’t have been a dispute in the first place, although the locals think otherwise. It is also clear that the Albanian government needs to work harder in solving such issues.
At times land ownership problems can be avoided by just asking the locals about the property as most of them will be well informed. If you seek sufficient advice and research before you buy a property you will certainly make a safe and profitable investment.
The majority of investors do not have such problems as they invest in apartments and property in major cities where the government regulates heavily.
the attachments to this post:
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