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Construction of a pioneering real estate scheme in Albania is reaching the 14th floor and is set to transform the surrounding area as it progresses.

TID Tower is being built in the capital city of Tirana and is part of an ambitious homes and business real estate plan for the city, based around 10 high-rise towers.

Developers revealed this week that building is progressing well and that completion should arrive by the end of 2010.

Designer 51N4E is incorporating offices, homes, and other real estate opportunities including shopping and restaurant facilities at the top and bottom.

The building is particularly striking thanks to a design known as a super ellipse, which starts as an ellipse and ends as a rectangle.

51N4E said: “The subtle transition between these two basic shapes makes a tower which fully captures the Mediterranean light of Tirana, and creates ever changing shadows.”

Inside apartment homes will be accessed by a central staircase and lift, and there will also be secure underground car parking.

Tirana Dec, 20, 2008 (AENews) –A planned hydro power plant, HPP, project in the Devolli River in Southern Albania, will increase Albania’s general domestic product, GDP. by two percentage points, announced on Saturday the Minister of the Economy Genc Ruli.

“Our economy will benefit a 2 per cent rise by Devolli HPP project, while the investment will open 7500 new jobs, “said Ruli,  in a presentation of the project held on Saturday, explaining the benefits of the concessionary agreement.

Tirana, Dec. 19, 2008 – Net foreign investments in Albania reached EUR 380, during the nine months ending Sept. 30, Bank of Albania data shows. Net foreign investments increased by 2.6 per cent compared to the same period 2007.

“The major part of foreign investments inflows, almost 64 percent, derives from the investments in the financial sector, mainly with the commercial banks”, BoA said.