Construction Reaches Record High in Albania, Sector Exceeds €6 Billion in a single year

Albania’s construction sector continues to expand rapidly, driven by residential developments, public infrastructure investments, and the growth of tourism.

According to data from INSTAT, the total output of the construction industry reached approximately 600 billion lek (€6 billion) in 2024, marking the highest level ever recorded.

The sector now accounts for around 12% of Albania’s Gross Domestic Product (GDP). Growth has been fueled by the construction of hotels, tourism resorts, residential complexes, and increased real estate purchases by foreign buyers.

Of the country’s 200 largest companies by revenue, 39 operate in construction and related industries.

Together, these companies generated around 200 billion lek (€2 billion) in revenue during 2024, representing a 10% increase compared to the previous year. The sector’s growth comes as SPAK investigates alleged money laundering schemes involving several companies, including construction firm “Nova Construction.”