The Arab company that built the famous artificial islands in the city of Lusail has opened a branch in Albania. The Urbancon Trading and Contracting branch was registered at the National Business Center on September 15 with a wide range of activities, from construction, energy to the marina business.
Urbacon Trading and Contracting is an internationally focused company with global operations. This company has completed several iconic projects such as the artificial islands of Lusail and the Waldorf Astoria complex in the Maldives.
Lusail Islands
A month ago, Urbacon signed a $4 billion contract with the Syrian government to rebuild and operate Damascus airport.
Waldorf Astoria in the Maldives
Urbacon is part of the Power International Holding group, owned by Moutaz Al-Khayyat. This group consists of about 28 companies and has an annual turnover of 1.2 billion dollars.
It is not known what Urbacon's intentions are in Albania. Is this group in discussions with the government for a major public contract, or is it aiming for private investment?
Urbacon is the second major Qatar-based company to arrive in Albania, after Alabbar's Eagle Hills.
Editorial
