Development of the ‘Flamurtari’ Stadium in Vlora city, reconstruction/reconception of the pool and Sports palace, and the requalification of the surrounding area, through enterpreneurship

1.     The Albanian Investment Corporation, here "Corporate" is a joint-stock commercial company entirely owned by the state, with the Ministry responsible for the economy of the Republic of Albania as its sole shareholder.

2.  The Corporation is implementing the investment project “Development and Management of State Properties”, which includes the sub-project “Revitalization of the 'Flamurtari' Stadium in Vlora city, reconstruction/reconception of the pool and sports palace, and the requalification of the surrounding area” (hereinafter referred to as “the project”), through the legal instrument of entrepreneurship in relation to certain public properties that will be allocated for development, as specified in Section IV, Subsection 2, Property Information, of the Qualification Document.

3.  The investment project aims to transform state-owned properties that currently show signs of wear, degradation, and outdated, non-contemporary infrastructure, where existing conditions indicate the need to improve their quality. The public interest pursued by the investment project lies in enhancing the country's sports infrastructure and energizing the city by fostering the development of urban areas where the properties are located. The project is implemented through a partnership model, where the Corporation acts as the developer and intermediary between the public institution that seeks to develop its properties and benefit from improved assets, and the private partner, who possesses the financial, human, and executive resources and has a vested interest in carrying out the investment project.

4.   The private partner ensures the profitability of the investment made by avoiding any bureaucracy and ambiguity regarding the property’s status, the acquisition of permits, as well as any interaction with public authorities. In collaboration with the Corporation, the private partner also contributes to achieving the public objective of this investment project.