BALFIN Group in Albania: Which Registered Entity Actually Builds and Sells

A buyer signing for an apartment at Green Coast or Rolling Hills is not signing with "Balfin Group." The Albanian commercial registry lists at least four separate limited liability companies behind that brand, each with its own tax identification number, its own share capital and its own administrator. Which one appears on the contract decides who owes the buyer the building, who owes the after-sales service and who can be pursued if something goes wrong. That distinction is worth understanding before a deposit moves.

What the registry shows

The holding company is registered as Balfin - Balkan Finance Investment Group, NIPT K72223031K, entered in the register on 11 September 2007 as a limited liability company. Its registered office is at Rruga Papa Gjon Pali II, Building 12, 11th floor, in Tirana. Share capital stands at 3,216,205,000 lek. The administrator is Edlira Muka, appointed on 16 February 2015, and Samir Mane holds 100 percent of the capital. The company has changed names twice: it traded as Samir Mane Consulting Group Sh.p.k until April 2008 and as BALFIN until 14 December 2020.

The construction arm is the oldest of the group's property entities. Balfin Construction, NIPT K22203004A, was registered on 7 August 2001 under the name MANE TCI, and has also appeared as MANETCI, MANE TC (Trade - Construction) and Mane 3. Its share capital is 544,452,651 lek, its administrator is Kozma Heqimi, and its registered scope is the design and construction of civil and industrial structures. The holding company owns it outright.

Sales and hospitality sit in a much newer company. BALFIN Real Estate & Hospitality, NIPT L81507052H, was registered on 28 February 2018 with share capital of 124,437,000 lek and offices on the eighth floor of the ETC business centre on Bulevardi Bajram Curri in Tirana. Its administrator is Ledja Telhai. Its registered scope covers brokerage and representation in property transactions, buying, selling and leasing, hotel operations, valuation and property management. It is also wholly owned by the holding company.

A fourth entity handles what happens after handover. ACREM, registered on 11 September 2007 as Albania Commercial Real-Estate Management System sh.p.k., carries NIPT K72208014O and share capital of 100,000 lek. Its administrator since January 2023 is Elda Hysenbelli, and its registered activity includes the administration of building co-ownership and the management of commercial centres. For an apartment owner, this is the company whose performance determines whether common areas stay maintained.

The registry records Samir Mane as the ultimate beneficial owner of all four, each held through the holding company.

The delivery record

The group publishes a project list that separates markets clearly. In Albania it names Green Coast on the Ionian coast, Vala Mar Residences at Hamallaj, described by the company as a fully sold residential complex covering 67,000 square metres of construction, the Rolling Hills developments at Farka, Vlora Marina with a stated 800 premium apartments and 150 residences, and Univers City in Tirana across a stated 444,000 square metres. Outside Albania it lists East Gate Living in Skopje at 672 residential units, several Austrian projects in Vienna and Gmunden, four United States projects in the Bronx and New Jersey, and two in metro Vancouver.

Green Coast is the project with the clearest completion evidence. In October 2022 the project's own website announced that Green Coast Resort & Residences had been completed, with more than 500 units finished, and quoted Ardiana Sokoli, described as Deputy of the BALFIN Group for Real Estate. The same notice referred to a further phase, Green Coast Village, as still ahead. Several of the other Albanian projects are presented without stated completion dates, which means a buyer cannot read a delivery timetable off the company's own material and should ask for one in writing.

Verifying a claimed handover date against what has actually been built is the core problem for anyone buying off plan in a market they do not live in, and it is the reason platforms like Bektu (https://bektu.com) track delivery history at the company level rather than the brand level. The company page for the group sits at https://bektu.com/companies/balfin-group.

Who finances the buildings

Two financing relationships are on the public record. On 11 September 2024, SeeNews reported that BALFIN Group had signed a financing agreement with Intesa Sanpaolo Bank Albania for 26 million euro toward construction of an MGallery hotel at Green Coast, with the European Bank for Reconstruction and Development providing risk-sharing support of up to 50 percent of the facility. MGallery is a hotel brand of the Accor group.

On 6 August 2026, SeeNews reported that the EBRD was considering an unsecured loan of up to 25 million euro to Balfin Group. That facility was described as supporting expansion of the group's retail business across the Western Balkans and Moldova, not its property arm, and the report described the bank as still evaluating it rather than having approved it.

Bank and development-bank involvement is a useful signal because both run their own due diligence, but it is a signal about the specific financed asset, not a guarantee covering every project a group sells.

On design, the group credits Emre Arolat Architecture and Iraci Studio on Green Coast, and names MGallery, Meliá and Hyatt as hotel brands associated with the destination. In March 2021 the group announced an affiliation of Green Coast Resort and Residences with Interval International, the timeshare exchange network.

The strategic investor question buyers should ask

Albania's Law No. 55/2015 on strategic investments, amended by Law No. 8/2025, lets the state grant designated projects an assisted or special procedure. Tourism projects qualify for the assisted procedure at 5 million euro of investment plus 80 jobs, and for the special procedure at 50 million euro. The benefits are substantial: priority document handling, faster licensing, land consolidation support and access to state-owned property. Under the special procedure they can extend to expropriation of privately owned immovable property and to parliamentary approval of the investment contract.

That framework matters to a coastal buyer because it can affect how the land under a project was assembled. We did not confirm whether any of the group's projects holds strategic investor status, and no such grant should be inferred from the fact that the law exists. A buyer can ask the seller directly whether the project was designated under Law 55/2015, under which procedure, and on what date, and can ask to see the land title history for the specific plot.

Practical checks

Ask which registered company will be named as seller, and match its NIPT against the register rather than relying on the brand on the brochure. Confirm whether the builder, seller and property manager are the same legal person, because in this group they are not. Ask for the construction permit reference for the specific building and the certificate of ownership for the plot. Ask what ACREM or any successor manager charges annually for common area maintenance, and what happens if the developer's stake in the scheme is later sold.

None of this is specific to one company. It is the ordinary work of buying from a group structure, and it applies equally to the other large Albanian builders covered in our reviews of Kastrati Group's operating entities and Progeen's registry and delivery record. Readers new to the market should start with the rules on whether foreigners can buy property in Albania.