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Balfin Group

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BALFIN Group
Company typePrivate
IndustryRetail, Real Estate, Banking, Asset Management, Renewable Energy, Logistics, Education
Founded1993; 31 years ago (1993)
FounderSamir Mane
HeadquartersTirana, Albania
Area served
United States
ProductsSupermarkets
Electronics
Clothing
Shopping Malls
Banking
Revenue€633million (2022 Non-Consolidated Net Revenue)[1]
Number of employees
5,000 (2023)[2]
Websitewww.balfin.al

BALFIN Group (Balkan Finance Investment Group) is an Albanian private investment group and one of the largest private investment groups in Western Balkans and some countries of the European Union. It owns some of the largest companies in Albania.[3]

BALFIN Group is one of the most important and successful investment groups in the Western Balkans region. BALFIN Group was founded in 1993 in Vienna by Samir Mane, and today is present in Austria, Albania, Kosovo, Bosnia and Herzegovina, North Macedonia, Montenegro, Switzerland, Croatia, Netherlands, and in the United States of America.

BALFIN is a diversified group active in real estate, wholesale and retail, banking, asset management, tourism, education, and logistics. The Group employs approximately 5,000 people, and is a major player[4] in the Albanian[5] and international markets operating in ten countries.

History

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The beginnings of Balfin Investment Group started in 1993 in Vienna, where Samir Mane founded Alba-Trade. Having started with the trade of electronic devices, soon the BALFIN Group, created by Mane managed to create the largest network of electronics stores in Albania, Neptun and then extending the network in the neighboring countries of Kosovo and Macedonia. Neptun's chain of stores was positioned from the beginning in 1993 as the main electronics player in the Albanian market supplying the demand with the best brands and latest technology. Today this business created by Mane counts 28 stores in Albania and more than 27 in Kosovo and North Macedonia.[6]

In 2005, Balfin Group built QTU, the first shopping center, revolutionizing the way that Albanians used to shop. In 2011, Balfin Group built a second shopping center TEG, the most modern and biggest shopping center in Albania and the region. In the same year, Jumbo Albania, the largest toy store in the Balkans became part of BALFIN Group.

From 2005 until 2011, several companies were created or became part of BALFIN Group such as: Fashion Group ALBANIA, ACREM, FoodWay, Elektro-Servis.

In 2012, Balfin Group started building Tirana Logistic Park, designed to provide services not only to Albanian businesses, but primarily offering an international standard service. Immediately after starting the construction of this important project, Balfin Group concluded one of the most important investments of the group abroad, Skopje City Mall, which was sold a few years later.

In 2013, Balfin Group acquired 100% the shares of ACR Holding, which is now called AlbChrome. AlbChrome is the leader in the mining and metallurgy industry in Albania, the Balkans and the second largest in Europe.

In 2015, Balfin Group started the construction of Green Coast Resort & Residences, the first premium resort located on Caesar's Beach in Palasa, Albania. The beachfront Resort has finished delivering the villas built in the first and second phase and is now constructing phase 3 and 4 (Final) including a 5 star international brand hotel.

REAL ESTATE – Balfin Group started the activity in the field of construction in the early of 2000, first focusing on the construction of residential and commercial areas in Albania. Latter the Group expanded its activity in the construction of Commercial and Industrial areas, elite and tourism projects not only in Albania, but also in North Macedonia, Austria etc.

In the same year AgroCon Albania was established, developing its activity in the field of agriculture for the production of agricultural products, wholesale and retail of agricultural products in Albania and abroad. SPAR became part of Balfin in 2016, intending major investment and an expansion of SPAR in Albania. A joint venture established by Milsped and Balfin Group in 2017, Stella Mare, is representative of Maersk Line Company, the largest group of shipping containers in the world, offering its services in Albania.

Balfin Group continued to expand even in 2018 when Skopje East Gate (SEG), which was established in 2017, announced a large investment in North Macedonia, including a shopping center, and several blocks of residential and business complexes.[7]

In 2018, Balfin Group concluded the acquisitions of Dyqan Taxi, the largest online retailer in Albania, NewCo Ferronikeli, the largest exporter of Kosovo and one of the largest producers of nickel in Europe, and Tirana Bank, the first private bank in Albania.

Subsidiaries

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References

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  1. ^ BALFIN Group Annual Report 2022
  2. ^ BALFIN Group Annual Report 2022
  3. ^ "The Top 100 Most Profitable Albanian Companies". Invest in Albania. 2018-10-22. Retrieved 2019-01-31.
  4. ^ "The Top 100 Most Profitable Albanian Companies • IIA". IIA. 22 October 2018. Retrieved 2020-10-28.
  5. ^ "Grow your business in Albania: Overview". www.ebrd.com. Retrieved 2020-10-28.
  6. ^ "Oranews.tv - Neptun me dyqan të ri tek Cristal Center, oferta për të gjithë të interesuarit – Ora News". 2015-10-05. Archived from the original on 2015-10-05. Retrieved 2019-01-31.
  7. ^ "Albania's Balfin unveils 350 mln euro real estate project in Macedonia". seenews.com. Retrieved 2020-10-19.
  8. ^ "Përfito tani nga ky investim unik - të ardhurat pasive, më të sigurta se kurrë! |". Revista Monitor. 2019-01-30. Retrieved 2021-03-10.
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