Progeen sh.p.k. in Tirana: The Registry Record Behind a Fast-Growing Pipeline

Progeen sh.p.k. has completed roughly 158,000 square metres of building in Tirana since 2013 and currently has around 196,000 square metres in execution, on its own figures. Its pipeline, counting Univers City, Riverpark Residences, Tirana Uptown, Nest Towers and a share of the Tirana New Boulevard towers, is larger than everything it has finished in twelve years put together.

That is the single fact a buyer looking at an off-plan unit from this company should hold in mind. It is not an accusation. It is a scale question, and Albania's registry publishes enough to let anyone assess it.

The registry record

Albania's business registry is unusually open, and this file is complete.

The registered name is PROGEEN, a shoqëri me përgjegjësi të kufizuar, the Albanian limited liability form. Its NIPT is L32113001C. It was incorporated on 10 September 2013 and its registered office is at Rruga Shyqyri Bërxolli, Pallati Intercosat, Entrance A, First Floor, Tirana. Status is active. The registry records the capital as Albanian in origin, with no foreign capital.

Registered capital tells its own story. The company was formed with 100,000 lek and raised that to 200,100,000 lek by a general assembly decision dated 31 May 2023, immediately before the current high-rise phase.

Genc Kuçuku is sole owner, holding all 100 shares, and is the current administrator. Arjola Hoxha served as administrator from 4 July 2019 until 20 June 2022. There is no board, because a single-shareholder Albanian limited liability company does not have one. The company also holds an 8.84 per cent stake in SH.A. Dajti.

One naming trap is worth flagging. A separate company, Progeen Konstruksjon, holds NIPT K81928008V, was registered on 12 December 2005 and lists Genc Kuçuku and Enver Kuçuku as owners. Different NIPT, different legal person. If you are checking a contract, check the number rather than the name.

Financial scale

Declared turnover on the registry file runs 362.8 million lek in 2020, 1.296 billion in 2021, 1.458 billion in 2022, 1.274 billion in 2023, 2.304 billion in 2024 and 1.873 billion in 2025, with pre-tax profit of 65.6 million lek in 2025. The company recorded losses in 2013, 2014, 2016 and 2017.

Public procurement makes up a meaningful share of that. The file records contracts including 890,987,500 lek awarded to a joint venture with Beqiri and Hydro-Eng Consulting, 479,484,400 lek to a joint venture with Kurti-07 and Sina 98, and three Albanian Development Fund contracts of 292.5 million, 440.0 million and 789.9 million lek. A contractor with a real public works book is a different proposition from a pure off-plan seller, and it cuts both ways: steady revenue, but capacity committed elsewhere.

What has actually been completed

The company's own project pages give the finished record with areas and dates. Rezidenca Progeen 1 in Tirana, 7,741 square metres, 2014. Rezidenca Progeen 2 on Rruga Bardhyl, 5,747 square metres, 2015. Rezidenca Rainbow on Rruga Albanopoli, 11,718 square metres across blocks of seven and nine floors with one basement level. Rezidenca IRIS on Rruga Zihni Sako, 7,974 square metres, built with ENOS shpk.

Third-party project records from the architects' registry date Rainbow to September 2017 through December 2019 and IRIS to August 2018 through February 2021, both earlier than the ranges on the company's own site. The named technical director on both is engineer Genc Kuçuku, with architects Aris Kero and Andi Agalliu and construction supervision by AVE Consulting.

Unit counts are not published for any completed project. That is a real gap. Only Univers City, still under construction, carries a figure, at roughly 1,100 apartments across eight buildings of seven to nine floors on 125,611 square metres at Laknas on the Tirana to Durrës highway, at a stated value near 50 million euro.

The permit record

Two of the company's projects appear on the official agenda of the National Territorial Council for 24 December 2024, published by the State Agency for Territorial Development. Item nine is the construction permit for Tirana New Boulevard, described as 41 and 44 floors above ground with six underground levels, with the entities the agenda names as "Smart Construction" sh.p.k. and "Progeen" sh.p.k. as developing entities. Item eighteen is Nest Towers, a residential and services complex with Progeen sh.p.k. named alone as developing entity.

Note a discrepancy that has not been reconciled publicly. Top Channel's report on the National Territorial Council's approval of twelve Tirana permits on 19 October 2023 describes the same New Boulevard scheme as having eight underground levels, where the December 2024 agenda says six.

Individual construction site permits on the registry file include permit P-10977/6 dated 3 January 2021 for a site on Rruga Qemal Stafa, valid to 1 April 2025, and permit P-23101/6 dated 9 April 2021 for a site on Rruga 5 Maji. Other declared sites sit in Durrës and in Kamëz and Laknas.

No permit decision numbers, permit conditions or unit counts for Tirana New Boulevard or Nest Towers have been published.

Named counterparties

Smart Construction Invest sh.p.k., NIPT M12129013M, registered 28 September 2021 and owned by Redi Struga, is the co-developer on Tirana New Boulevard, holding the development rights while the construction contract sits with Progeen. Archea and Associates is named as architect for that project. ProCredit Bank is the only bank named anywhere in connection with the company, as a mortgage financing partner on Tirana Uptown. ENOS shpk co-built IRIS, and Gj&E shpk, Derveni shpk and Geared shpk are named as co-developers on G8.

In competitions run by the Albanian Investment Corporation, the company placed second twice. On the Zhan D'Ark tower, Monitor.al reported in March 2025 that AIBA won with an offer of 46.1 per cent against a bid of 45 per cent. On the Zyber Hallulli site it bid alongside Taller Hector Barroso, in a field Monitor.al reported in January 2026, and did not win the tower component.

The company's own directory entry sits at https://bektu.com/companies/progeen-construction, and Bektu tracks the same registry and delivery evidence for other Tirana builders at https://bektu.com.

Regulatory and legal record

No tax authority action, no court judgment naming Progeen as a party, and no permit revocation was located in Albanian registry data, government publications or named Albanian press for this piece. Some Albanian outlets have published commentary questioning whether the company has the financial capacity for towers of this height, but none of that commentary cites a charge, a case or a regulatory finding, and none is reproduced here as fact.

State that absence accurately. It means no such record was found in the sources reached. Albania has no single searchable court judgment database open to the public, so the finding is limited by what is published, not proof that nothing exists.

For the other side of the New Boulevard partnership and how development rights and construction contracts split there, see Smart Construction Invest and the Tirana New Boulevard project. For comparable registry-based readings of Tirana contractors, see what Albania's public registers show about Fusha sh.p.k. and which Kastrati entity actually signs your contract.

What to check before signing

Pull the current QKB extract for NIPT L32113001C and confirm the administrator signing your contract holds active power of representation on the date of signature. Confirm which legal person is the developer and which is the contractor, because in Albania warranty and handover claims run against the developer. On any New Boulevard unit that means Smart Construction Invest, not Progeen. Ask for the permit decision number rather than the council agenda item, and ask for the unit count and completion date in writing, since neither is published for most of these buildings.