Albanian Investor Boosts Zagreb Hotel Scene

New hotels for the capital.

As Marija Crnjak/Poslovni Dnevnik writes on the 8th of July, 2018, the building in Praška ulica (street) was purchased from Zagrebačka banka by Abau, which is otherwise headquartered in Lovran back in 2015, and was founded by the Albanian company Gener 2 SHKP. The new investors still aren't willing to reveal any project details.

Zagreb is set to gain four new high-class hotels dotted only a few hundred metres away from each other. With Adris, who is planning a hotel on Ban Jelačić Square, and Ugo Group, which will open Hotel Century in Jurišićeva this autumn, a building of about 2,000 square meters in Praška ulica is currently being restored by an investor from Albania. Additionally, uncomfirmed stories that a hotel will pop up on the Draškovićeva ulica, in the palace bought by the Zagreb company Sekvoja Projekt, are still circulating.

The new investors still aren't revealing any further details of the hotel project, despite being close to realisation. In Praška ulica, the site of the future hotel was surrounded by building site fencing, after a building permit was granted for the reconstruction of the building purchased by Abau two years ago. The Albanian company Gener 2 SHKP is in the construction and energy business, and among other things, is also involved the project of the construction of the Adriatic Pipeline.

On their website, they point out that they boast 900 employees are one of the 10 largest companies in Albania, and the largest construction company in the country. In Praška ulica, they are planning a five-star hotel, and for the time being, they haven't revealed any deadlines or details of investments, nor have they given any hints as as who will manage the hotel and whether it will be an international brand.

They didn't want to comment on the construction of the hotel in Draškovićeva ulica, located in a palace in which the Ministry of Education was based for a long time.

The first of these hotels to open will be Hotel Century in Jurišićeva, which is a significant Ugo Group investment of around 14.5 million euro. The Heritage Hotel Century will operate under the luxurious Amadria Park, and opens in September.

Otherwise, new investments have created new market conditions for Adris, who two years ago released the information that they're building a luxury hotel in the former Croatia Osiguranje (Insurance) building.


Click here for the original article by Marija Crnjak for Poslovni Dnevnik