New motorways set to make Adriatic more accessible for overseas property buyers
A little known motorway project in the Western Balkans interior is about to have a significant impact on the development of Albania's coastline and could be good news for second home buyers, it is claimed.
Representing the region's largest infrastructure project in recent years, South Eastern Europe is set to see huge economic benefits now the first section of the 120 kilometre Morine to Merdare motorway connecting central Kosovo with Albania and the Adriatic coast is almost ready to open.
The estimated €1 billion infrastructural development in Kosovo will be of strategic importance, running from Morine on the Albania border to Pristina, the capital of Kosovo. The four lane motorway extension will now connect the Durres-Kukes motorway with Prizren and Pristhtina.
Indeed, while the new motorway will undoubtedly help boost the Kosovan economy by creating an estimated 3,000 jobs, neighbouring Balkan nation Albania, reached by many tourists through Kosovo or Macedonia will also reap the positive effects, according to Ravin Maharajah, partner of award winning Lalzit Bay Resort & Spa.
He points out that tourist destinations such as the five star Lalzit Bay residential development and the Adriatic Sea region in general will be more accessible.
‘The economic benefits of this new motorway extension will be felt relatively quickly across the Balkans and especially Kosovo and Albania. The reduction in travel times with the existing motorway to Kukes in Albania already makes a significant difference to visitor numbers into Albania from Kosovo,’ he said.
‘There's been a 16% increase in tourist numbers into the country in the first eight months of this year as a result of improved infrastructure generated from the $400 million Tirana-Elbasan highway project and increased frequency of flights most recently between London and Tirana,’ he explained.
‘Certainly, we feel that infrastructural developments such as these have played a crucial part in creating the incredible level of interest we have seen at Lalzit Bay Resort & Spa. The first two blocks which we are about to start building are already almost sold out which is an incredible achievement. With this in mind, we are extremely excited to see the valuable outcomes for both Albania and Lalzit Bay once the Morine to Merdare highway is completed,’ he added.