In July of this year, the Strategic Investment Committee approved the strategic investment status for an 11-story hotel to be built in Ksamil. According to the Committee, this will be an investment of 45 million euros, which will have 155 rooms in total, of which 92 deluxe rooms and 8 suites.
"The investment value of the investment project “ENEA/Hotel Ksamil” meets the criteria provided for by the legislation on strategic investments and is expected to be 45,000,000 (forty-five million) Euros," the decision of the Strategic Investment Committee states.
IS Committee Decision
But who is the strategic investor who will build this hotel?
The hotel construction company, which received strategic investor status, is called AICA Imobiliare. It is owned by Armand Hoxha, a lawyer from the village of Radë, which is part of the administrative unit of Manzë.
The lawyer with his hands in his pockets
AICA is a company founded in December 2021, which has no activity and does not generate any income. The company has around 1.9 million euros in assets, the vast majority of which come from a land plot in Ksamil, which was purchased on credit. On the other side of the balance sheet, liabilities amount to 1.7 million euros, which means that the company's net capital is only 200 thousand euros.
AICA Financial Statement
But despite having no money, AICA will invest 45 million euros to build the hotel in Ksamil. And it's not just AICA that has no money. Its owner also has no money.
Armand Hoxha owns two other companies besides AICA. One is called Advisors & Management, while the other is called Luar Group. These are also inactive and do not generate any income.
At this point, the question that arises is how a lawyer with his hands in his pockets managed to obtain the status of strategic investor and convince the government that it will invest 45 million euros from nothing? But this is not the only point.
Through the status, Mr. Hoxha has also received 2,500,000 square meters of free state land in the most coveted area of the Albanian coast. "In accordance with the legislation on strategic investments, a supporting measure for land consolidation is approved, in principle, as well as the provision of real estate, owned by the Albanian state, for the development and implementation of this strategic investment project aimed at developing an integrated tourist project," the decision of the Strategic Investment Committee states.
Dubai Factor
On a dedicated website, Mr. Hoxha calls himself an entrepreneur, investor, and visionary. In his self-description, he says he is based in Dubai where he has built powerful businesses around the world.
"Headquartered in Dubai and operating globally, Armand has founded and led a diverse portfolio of companies, including AICA, 4H Real Estate, Advisor & Management, and Pay to Go. With each venture, he has built more than just businesses, he has built ecosystems that connect people, ideas, and opportunities across borders," reads the description of his personal website.
Armand Hoxha
Advisor and AICA are practically companies without any activity, so the description does not match reality at all. But this is not a problem in terms of public interest. The problem is that some of the most powerful crime groups in Albania are installed in Dubai. Could this be a possible source of funds for the hotel in Ksamil? This is always just a hypothesis, unproven.
What is proven remains the fact that a lawyer from Rada with his hands in his pockets is declared a strategic investor who will invest 45 million euros. Is there anything more strategic than this?
Editorial
