FOREIGN DIRECT INVESTMENT IN REAL ESTATE IN ALBANIA AND ITS IMPACT ON GDP

Antoneta POLO

Assoc.Prof.,”Eqrem Çabej” University, Gjirokastra, Albania

neta_polo@yahoo.com

Enkela CACA

Assoc. Prof.,”Eqrem Çabej” University, Gjirokastra, Albania

ebabaramo@yahoo.com

Ilirjana ZYBERI

Assoc. Prof.,”Eqrem Çabej” University, Gjirokastra, Albania

izyberi@yahoo.com

Christos Ap. LADIAS

Professor, Regional Science Inquiry Journal, Greece

Ladias@rsijournal.eu

Filipos RUXHO

Faculty of Agribusiness, University of Haxhi Zeka, Peja, Kosovo,

filipos.ruxho@unhz.eu

Abstract

Foreign Direct Investment (FDI) in real estate has played an increasingly significant role in Albania’s economic development, particularly over the past decade. This paper examines the relationship between real estate FDI and Gross Domestic Product (GDP) in Albania over a five-year period, analyzing whether foreign investment in the real estate sector has acted as a driver of economic growth or merely reflected broader macroeconomic trends.

Our empirical findings suggest that  FDI in real estate (RE) has had a positive contribution to GDP growth, particularly through increased urban development and rising property values in key economic centers like Tirana and coastal cities.

This study provides valuable insights for policymakers, emphasizing the need for strategic reforms to enhance the benefits of real estate FDI while mitigating risks associated with speculative activities.

This study, also, contributes to the literature on FDI and economic growth, offering a case-specific analysis of Albania and providing policy recommendations for optimizing the benefits of foreign investments in real estate.

Keywords: Foreign Direct Investment (FDI), Real Estate, Economic Growth, GDP, Albania, Regression Analysis

JEL classification: F21, R 30, E01,

pp. 135-142

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City Marketing in Greece: The Post-Olympic Use of Hellinikon former airport site

Sotirios Milionis

Abstract:
Despite the appearance of a significant number of publications on the topic of city marketing theory in the last twenty years, there is still a huge gap in the literature with regard to its application in practice. This article aimed to bridge that gap by investigating the role of city marketing in planning the sustainable post Olympic use of Hellinikon former airport site in Athens, Greece. It was found that certain elements of the city marketing theory were attempted to be employed in the design process, however project implementation was seriously hindered as a result of the involvement of various stakeholders with differing and conflicting agendas. read more

Keywords: City Marketing, Hellinikon, Post-Olympic use, planning, real estate