Urbacon Trading and Contracting, one of the largest construction companies in the Arab world, has come to Albania for the Zvërnec resort.
Capital has learned that the Qatar-based company, owned by Moutaz Al-Khayyat, will be part of the resort construction project, which was initially rumored to be built by Jared Kushner, son-in-law of US President Donald Trump. But later plans changed and Kushner is focusing solely on the Sazan project.
Two months ago, the KKTU also approved the construction permit for the giant resort of Resort on behalf of the company Zvërnec South Adriatic Development shpk. This company is owned by Universal Properties Projects BV, a company registered in the Netherlands. But Kapitali has learned that UrbaCon will also join the project.
A few days ago, the Qatari company registered its branch in Albania for this purpose, although it is not yet known whether UrbaCon will be a subcontractor for the construction of the project or will enter as a shareholder in it.
Urbacon is one of the largest construction companies in the Arab world. In 2024, it was ranked as the 42nd largest subcontractor in the world.
The company is known for building a number of famous projects, such as the artificial islands in the city of Lusail and the Waldorf Astoria complex in the Maldives.
Urbacon has an annual turnover of $1.5 billion and is part of the Power International Holding group, owned by Moutaz Al-Khayyat. This group consists of around 28 companies.
Editorial
