Altin Hekali

Tirana (ALB)
Role(s):
Founder/Owner/Principal

GOLDART LTD

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Location: Shkodra
Description: Hello, My name's Altin. I am from Albania. I am 33 years old. I am married, with children. I am the co-owner of “Goldart LTD” that is construction company specialized in constructing of high-rise residential building. I have a construction business in Albania operating in Shkodra city, which is the largest city in north Albania. I have already completed one 9 floor residential building with a total surface of around 5000m2. This building has 42 apartments in total, 8 of which are under the ownership of the landlords of the building compound. The other 31 out 34 apartments are all sold. There are almost 850 m2 of commercial space, parking space and apartments (3 left) available for sale. The current market value of the above property is evaluated by a local bank. it’s between 550 K€ to 600 K€. DETAILS ON THE NEW ENTERPRISE The new building will be with 8 to 9 floors. City municipality is going to give the construction permission by March or April 2011 the latest. Both the architectural and the structure building project are close to being completed. All the necessary documents that are required by the law to apply for the construction permission are prepared and managed by a local architecture and legal consulting agency. The building will be around 3000 m2. Each floor is expected to have 3-4 apartments. The average cost to complete the building with the accepted and known local building standard is 280-300 euro/m2. The partner will have 39% of the business share if finances 300,000 EURO (or 400,000 USD). The share will be granted through a legal contract in which will be specified in details the rights and the liabilities of both partnership entities. What does the average local residential building quality include? Building structure skeleton is made of concrete mass and iron sticks which can be supplied in local market and are Albanian made. Walls are made of bricks and isolation materials (like industrial wool and/or polystyrene foam). The materials of implementing the electricity and water (plumbing) projects are all supplied from abroad, mainly Italy and can be all supplied in local market. The internal and external wall coatings are of fine quality where the stone and the mixture staff are well tested along the application process. The equipments that are more commonly used in internal house and toilet furnishing are imported from Italy, China or Greece. The building will have one lift. The residential buildings are administered by the investing/ construction during the first two years after the building is completed. It is the law in Albania for administering that regulates the residential building maintenance. The real estate properties tax “is zero” not being yet regulated by the Albania constitution. Other info. The machineries necessary to be engaged in the construction are partly owned by our company, and also rented. The banking system in Albania is willing to apply lending (mortgages up to 70% of the selling price) for apartment buyers after the building concrete structure and external walls are completed. The land on which the new building will be raised is close the already built building. The land is partly owned by me (and my single partner) and the other part is contracted with another landlord by exchange with constructed space. The most preferred apartments by customers are those with 2 bedrooms, 1 staying and cooking room, two toilets and 1 balcony. The selling price of 1m2 (square meter) varies from 550-600 euro. The start up phase of construction is planned to be implemented by late April or early May 2011.
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