Construction investments locked by territorial planning
Uncategorized Tuesday, September 13th, 2005Tirana, September 13 (AENews) – Construction industry investments fell by 55 % in 2004, latest Ministry of Finances’ annual report showed. Such a sharp fall was manly due the lower number of projects approved by authorities, according to the same report.
Planed investments fell to Lek36.6 billion (€300 million) in 2004 from Lek71.7 billion (€600 million) which were the results of 2003, according to data received from calculations made on projects approved by the authorities.
In 2004, authorities approved 1439 projects for a total of 1.15 million m2, or just half of the 3218 projects for 2.75 million m2 which were approved in 2003.
At the same time, more than 70 % of all applications were refused by the authorities.
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on Sep 13 2005. Filed under Uncategorized.
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