Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
TIRANA, Albania (AP) — Albania's parliament has given its approval for negotiations with a Dubai company to build a 350-meter (1,148-foot) -tall tower in the capital, Tirana.
The parliament's vote Thursday didn't make it clear when the government would start negotiations with Al Habtoor Investment LLC, on the $250 million (235 million euros) Tirana Iconic Tower project.
As currently envisioned, the 25,000-square-meter (29,904-square-yard) tower would occupy an extension of the capital's main boulevard and house businesses and possibly Tirana City Hall. The builders would be exempt from tax payments for 15 years as an incentive.
Al Habtoor Investment is a subsidiary of a subsidiary of the Al Habtoor Group, a conglomerate with interests in the hospitality, automotive, real estate, education and publishing sectors.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
