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"Shkëm" 30 floors in the New Ring Road - The construction company has a loss-making balance sheet, minimal share sales after receiving the permit!

2026-05-01 22:06:11Investigim SHKRUAR NGA REDAKSIA VOX
"Shkëm" 30 floors in the New Ring Road - The construction company
Photo montage - Vox News

A 30-story high "cliff" will be built on the New Ring Road, in one of the areas that has been developed chaotically for years, where after early permits from the former Kashar commune, later the Municipality of Tirana, it is now the turn of the National Territorial Council to concrete the little space that remains.

Documents researched by Vox News show that the KKTU has in recent weeks disclosed the next permit, named "Great Ring Rock", while the fact that the construction firms, now with a single owner, have declared minimal income remains highly suspicious.

It seems that the statements of the heads of government that they will control the companies that build, to see the capital or turnover, have only been on paper, while in reality everything is different, starting from the institution directly subordinate to the Council of Ministers. The names that make these statements, or sign regulations or instructions, are the same ones that put the signature and seal on the next permits, as is the case that our editorial team has verified and researched.

"Shkëm" 30 floors in the New Ring Road - The construction company
Facsimile: Construction permit for the “Great Ring Rock” facility, a residential and service building with 30 floors above ground and 4 floors underground

The permit in question, according to documents obtained by Vox News, was approved a year ago, while it was only revealed in recent days, as it states that the "rock" will be 30 stories high above the ground and will have 4 floors underground. The tower will be built on "Teodor Keko" Street, with the development companies "Albus Invest" and "Loraldo" as developers.

"The area is located along the Great Ring Road of Tirana, which connects the country's national roads with the center of the capital. Consequently, it becomes part of the experience of arriving in Tirana and an entry point to it. The positioning next to the Lana River, which is planned to be redeveloped, includes this area in the city's ambition to create safe, green and accessible infrastructure and public spaces," these documents state.

In the area there are residential complexes over 5 floors, as well as apartments from 2 and 3 floors, creating a non-uniform appearance. "Currently, the square for development purposes is used for parking vehicles. The terrain is flat, so there is no difference in elevation," the document continues.

"Shkëm" 30 floors in the New Ring Road - The construction company"Shkëm" 30 floors in the New Ring Road - The construction company

"Shkëm" 30 floors in the New Ring Road - The construction company
Facsimile: Building permit documents predict that the tower will have the appearance of a 30-story cliff

The same documents stipulate that the upper floors will be for residential use, while the lower floors will be for service units. “Above the commercial level, the tower contains a primarily residential program, with the possibility of a residents' 'clubhouse' on the upper levels,” the document continues.

It further states that, beyond its characteristic “rock” shape, the building offers an improved and comfortable experience for residents, becoming an important destination for the neighborhood thanks to its commercial activity. “With its ‘rock’ shape and rough texture with integrated greenery, it refers to the mountains and nature surrounding the city, harmonizing nature, function and aesthetics,” the document continues.

"Shkëm" 30 floors in the New Ring Road - The construction company

"Shkëm" 30 floors in the New Ring Road - The construction company
Facsimile: Sale of shares of the company that received permission for a 30-story tower for only 50 thousand lek

Meanwhile, Vox News has also researched other documents, for one of the development companies, namely “ALBUS INVEST”. In December 2025, a few months after the permit had been passed to the KKTU and was approved, one of the shareholders, Beqir Rraja, who had a full 50% of the shares, sold them for only 50 thousand lek. He sold these shares to the other shareholder, Armando Pajtoni.

The transaction has raised serious doubts that, for a property worth tens of millions of euros, a considerable amount will circulate, being sold for a ridiculous value. Vox News only intends to present documents for the permit, the place or the firm that will build it, in the meantime, it is other law enforcement institutions that can verify any other suspicions.

"Shkëm" 30 floors in the New Ring Road - The construction company

"Shkëm" 30 floors in the New Ring Road - The construction company
Facsimile: Balance sheets of the construction companies "Loraldo" and "Albus Invest" declared in the Central Bank

Vox News also researched documents from the National Business Center for two of the construction firms now owned by Armando Pajtoni. Both firms have declared losses on their balance sheets in recent years, while it remains unclear what capital they have.

Our editorial team refers to official documents in this institution, those declared, while the suspicions are that behind these firms or owners, other people may be hiding. How is it possible that two firms, where their owner buys the shares of another for 50 thousand lek, which come out at a loss, manage to build a 30-story high "cliff"?

©Copyright Vox News

This article is exclusive to Vox News, and is copyrighted under Law No. 35/2016, "On Copyright and Related Rights". The article may be republished by other media only by citing Vox News and including a link to the source at the end, otherwise any violator will be held liable under Article 178 of Law No. 35/2016.

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