Identifier
Created
Classification
Origin
08TIRANA386
2008-05-16 14:25:00
UNCLASSIFIED
Embassy Tirana
Cable title:  

THIS WEEK IN ALBANIA, MAY 10-16, 2008

Tags:  PGOV PREL AL 
pdf how-to read a cable
VZCZCXYZ0006
RR RUEHWEB

DE RUEHTI #0386 1371425
ZNR UUUUU ZZH
R 161425Z MAY 08
FM AMEMBASSY TIRANA
TO RUEHC/SECSTATE WASHDC 7097
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE
RUEAWJA/DEPT OF JUSTICE WASHDC
UNCLAS TIRANA 000386 

SIPDIS

DEPT FOR EUR/SCE
DEPT OF JUSTICE FOR OPDAT, ICITAP

E.O. 12958: N/A
TAGS: PGOV PREL AL

SUBJECT: THIS WEEK IN ALBANIA, MAY 10-16, 2008


UNCLAS TIRANA 000386

SIPDIS

DEPT FOR EUR/SCE
DEPT OF JUSTICE FOR OPDAT, ICITAP

E.O. 12958: N/A
TAGS: PGOV PREL AL

SUBJECT: THIS WEEK IN ALBANIA, MAY 10-16, 2008



1. (U) The following is a weekly report prepared by Embassy
Tirana's local staff to provide political and economic context and
insight into developments in Albania.

--------------
ECONOMIC DEVELOPMENTS
--------------


2. (U) WHERE REAL ESTATE IS STILL BOOMING: This week, the First
International Conference on Real Estate Development took place in
Albania's capital city. The conference brought together local and
foreign experts of the sector, including real estate consultants,
financial institutions, state officials, and local developers, for a
series of presentations, panels and workshops. The conference's
main goal was to provide an incentive for the development and
improvement of the real estate markets in Albania and to create a
place for networking and information exchanges for key players in
the Albanian and European real estate markets. The most interesting
presentations were related to the significant potential for
development in tourism, retail space and industrial parks.


3. (U) The conference was the first large-scale attempt to
advertise Albania's real estate potential to the international
community. Once-isolated Albania badly needs further development in
key real estate sectors to demonstrate its readiness for EU
integration. Real estate development is also one of the key factors
to attract foreign investors and enhance economic growth. Until
now, Albania has experienced a real estate boom primarily due to the
huge domestic demand for housing which fueled the construction
sector as a strong engine for economic growth enjoyed by the country
in recent years.


4. (U) There are a few foreign investors in place, including
developers from Israel and Kuwait, but Albania needs to begin to
attract investors from Eastern and Western Europe as well. Albania
needs to follow in the footsteps of those countries most recently
integrated into the EU, which experienced a real estate boom that
seized a slice of European investment as they drew closer to EU
membership. It is time for Albania to more actively promote its
spectacular coastline and its desirable geographical location at the
crossroads between east and west. The recent NATO invitation can be
a boost to these endeavors, projecting an image of increased market
stability and economic and political progress.

--------------
POLITICAL DEVELOPMENTS
--------------


5. (U) PRESIDENT TOPI HIGHLIGHTS ALBANIAN COMPASSION: President
Topi was in Israel this week to mark 60 years of Israeli
independence and to highlight Albania's role in harboring Jews
during World War II. Speaking at a panel in Jerusalem entitled
"Facing Tomorrow," he was joined by past and present world leaders
including his local counterpart Shimon Peres and former U.K. Prime
Minister Tony Blair. Topi stressed that Albania not only protected
its small Jewish population from deportation but sheltered hundreds
of others on the run from the Nazi regime.

--------------
THIS WEEK IN POP CULTURE
--------------


6. (U) BIG BROTHER IS WATCHING! Begun in the United States and
having made its way through Europe, the popular reality TV show has
now captivated Albanian audiences. Albania's version of "Big
Brother" has even replaced various soap operas in order to be shown
several times a day. While Orwell's initial idea that "big brother
is watching" was a description of the suffocating feeling of being
constantly watched, it has become these days in post-communist
Albania the way to guarantee your 15 minutes of fame. Several
auditions for the show have been mobbed by hopefuls. The show is
like a popular drug for many teenagers and youth to escape from the
daily realities of high unemployment and sub-standard education.

--------------
QUOTE OF THE WEEK
--------------


7. (U) "At the end of World War II, Albania was the only country in
Europe that could count a larger Jewish population than it had
before the War began." President Bamir Topi, speaking in Jerusalem
May 14.

WITHERS