Skip to main content Skip to footer

Market Overview Albania 2020


The Covid-19 pandemic reached Albania in March 2020 and has become since then the focal point of concern for the Albanian economy. As it kicked off in March 2020 with the first case officially announced by the Ministry of Health and Social Protection, it continues to develop to date with thousands of cases reported on a daily basis by government entities.

In addition to the pandemic, Albania continued to feel the consequences of the November 2019 earthquake which displaced thousands and is still affecting the economic situation. The redevelopment plan in the damaged areas is ongoing. Several establishments are still in the process of being demolished, while others are in the reconstruction phase. A number of constructions are planned to be built, and construction hasn’t started with delay. The Albanian economy is currently suffering from the Covid-19 medium term effects and the earthquake aftermath and it is foreseen that their impact will continue throughout 2021 and well into 2022.


Related Experts

Stela Dhami

Managing Director


Stela joined Colliers in August 2007 as a Key Account Consultant with primary account management responsibility of City Park, the first international style shopping center in Albania. This shopping center of 40,000 GLA opened in late December 2009 and currently houses anchors such as Mercator as the supermarket and Euronics as the electronics anchor, Intersport as the leading sportsware tenant, and a children’s entertainment area. Stela was able to facilitate the entrance of these international tenants to the Albanian market for the first time during the global financial crisis. 

Stela was promoted to General Manager of the Tirana/Albania team in October of 2007. She has been in this role until March of 2011 when she was promoted to Managing Director of the Albanian office. In her day to day work Stela is responsible for client and business management as well as overall management of staff and the office covering areas of finance, HR, and marketing. She is the leader of the Albanian office and is responsible for the business growth of Colliers in Albania.  Stela was promoted to Managing Partner in May 2013, a role which she holds to date.  

View expert

Migena Zace

Manager, Valuation and Advisory Services


Migena joined Colliers in January 2008 as Junior Advisor and Valuation Trainee.  She has 13 years work experience in economics, analysis of markets, and real estate valuations.

Migena has successfully accomplished several valuation reports, valuations, and market research reports, most of them prepared for large scale projects in the office, hotel, residential and retail submarkets. She has also worked on several valuation projects in Kosovo. After her first master degree (European Economic Studies) earned in 2008 from the University of Tirana and University of Bamberg, in 2012 she earned a Master’s degree in Real Estate from the University of Reading (England). In 2009, she has received the LEED AP title from the U.S Green Building Council. Since early 2014 she is also a member of the Royal Institution of Chartered Surveyors (MRICS).

View expert

Manjola Condi

Senior Associate, Valuation and Advisory Services


Manjola joined Colliers in October 2015 as Market Research & Marketing Consultant. She is responsible for providing market research to several valuation, valuation and market reports for office, retail, residential and hotel developments. She also contributes with marketing and PR support for the corporate image and on-going projects.

Prior to joining Colliers Manjola spent two years working for PSHM Microfinance as Head Office Manager, where she mainly provided administrative support to  Managers and office administration, followed RBS procedures and prepared notary declarations for the release of the real estate collaterals.

Manjola spent other six years working for NBG Bank at Business Credit Loan Department dealing with business loan monitoring, reporting and risk analyzing. She also prepared proposals for collateral release, legal procedures, loan restructuring and credit loans.

Manjola has additionally worked in total three and a half years as Executive Assistant in Devoll Hydropower Project and ARMO sha, where she has been responsible not only for Executive support and assistance, but also for logistics, market research and organizing

View expert