Press Release - ekonomia, March 25, 2009

Narta, Tourist City Plan Approved

The Council of Property Regulation of the Vlora district has approved the design of a new project.  On a 315 Ha parcel, a residential area and tourist complex, consisting of apartments, villas, golf course, marina, as well as luxury hotels, will be built.  The parcel is located in Narta village, about 7 km northwest of Vlora, with an American – Albanian company, called Vista Group, expected to lead the project. The Council of Property Regulation of the Vlora district has recently approved recently for transforming this property into a tourist/residential area. This approval will be followed by the development of a detailed project plan that has to be submitted within 1 month to continue with legal procedures and the next steps of the approval process, before actual construction can begin.  Expected investment in the Narta shore has been specified in a meeting of KKRT of the district for outside developers in this area, in accordance with current standards of construction and tourism in Albania.

The project team of this American – Albanian company, Vista Group, is composed of an ambitious and specialized group of American marine and environmental engineers, as well as Spanish and Albanian architects, to plan the building of this small city with an overall surface area of 315 Ha.  The project will include residential villas, apartment complexes, luxury hotels, etc.  These

Shiko Artikul ne Shqip

structures will be wreathed with other elements , above and below the water, to facilitate transportation and communication, in addition to a pleasure boat marina with an 800-1000 slip capacity, a golf course, international standard green parks and waterway system that will influence improvement of the ecological parameters in this area.

This "small city" will have 2 entrances/exits, and will connect directly with the Fier – Vlora highway that is under construction. The connection between the sea and the lagoon will be made possible through 2 large canals that will improve the water flow, and will be beneficial to the local environment.  Architects have designed a truly aquatic city, with a “modern Venice” profile".

Vista Group has purchased about 3 million meters square, in the eastern part of Narta’s Lagoon, and plans to build according to all parameters allowed by BE in this area. Vista Group is an American - Albanian company that operates in the construction area, in partnership with Albanian and Spanish investors. After 3 years experience in Albania, Vista has presented to Vlora this project that has 1.5 million Euro initial investment that they will continue to apply in the first phase of the project. This project is supported by all local levels of authority, here and in the national government.