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Tirana East Gate

<img src="https://placewise.imgix.net/images/api/retailhubjs/85113e1de330d476fc9f1de4bd8dcf5a.jpeg">BALFIN Group: Shaping the Future of Real Estate in the Western Balkans and BeyondWith a dynamic mix of shopping malls, retail parks, hotels, and residential developments, BALFIN Group is setting new benchmarks for real estate in Southeast Europe. In this exclusive interview, the company’s Vice President of Real Estate Asset Management, Csaba Toth, outlines BALFIN’s growth strategy, from expanding its footprint across the Balkans to entering mature Western markets. He explains how the group is redefining retail, embracing digital innovation, and why its integrated approach makes BALFIN a one-stop gateway for international investors and retail brands eyeing this fast-growing region.ACROSS: From Free Intern to Regional Real Estate Leader: Let’s begin with your professional background. How did your career evolve, and what led you to BALFIN Group?Csaba Toth: My career in real estate has spanned more than 25 years, with a strong focus on Central and Eastern Europe as well as the Balkans. It all began with a moment of inspiration. I attended a lecture by Sándor Demján, one of the well-known businessmen and entrepreneurs from Hungary and one of the leading minds behind TriGranit, and I was so impressed that I offered to work for him for free. That risk paid off, and I spent the next 18 years at TriGranit.My time there covered virtually every vertical in the real estate sector: financing, asset and property management, and large-scale development projects. I spent ten years abroad, leading and supporting development projects in six countries including Poland, Romania, Croatia, Slovenia, and more.Later, I joined Prime Kapital in Romania, where I gained valuable insights into asset acquisitions and retail parks. After that, I led the hospitality department at CBRE Hungary, adding hotel and tourism assets to my expertise. When I joined BALFIN in April of last year, I brought with me a comprehensive, 360-degree view of the real estate industry.ACROSS: What are your main responsibilities at BALFIN and how has your role evolved since joining?Toth: The position I hold today didn’t exist before. BALFIN created the Vice President of Asset Management role specifically to consolidate its growing portfolio and bring international strategy and structure to it. My responsibilities include overseeing our entire operational portfolio, which consists of shopping malls, retail parks, hotels, resorts, and multi-use developments. I aim to introduce long-term strategic thinking, international best practices, and a robust asset management framework.ACROSS: Speaking of expansion, what international markets is BALFIN targeting?Toth: Our expansion strategy is tiered, but we have identified Italy, Austria, Greece, and the United States as our core focus. We already have a presence in Austria and are actively establishing offices in the other countries. Currently, we’re in due diligence or exclusivity on three major investment deals. Our initial focus abroad is on hospitality and residential projects.<img src="https://placewise.imgix.net/images/api/retailhubjs/4966e1b1f90889364a927ae914edfe9c.jpeg">Balfin’s International FootprintACROSS: Let’s turn to retail. How important is the retail sector to BALFIN Group?Toth: Retail is central to BALFIN’s DNA. We are pioneers in shopping mall development in the Western Balkans. We are integrating entertainment and leisure concepts into our malls in Tirana and Skopje. These are strategic enhancements designed to increase footfall, tenant mix sustainability, and customer engagement. We are also growing our retail park portfolio in secondary cities through a joint venture with Big CEE.<img src="https://placewise.imgix.net/images/api/retailhubjs/5ab16fa051426d391f21768364c2de2e.png">West Park, the first retail park in Albania, opened in Korça in 2023 and introduced a new retail sales concept.<img src="https://placewise.imgix.net/images/api/retailhubjs/f81bf508780d47bcd3294ff32b48126c.jpeg">East Gate Mall, developed by BALFIN Group, is one of the largest and most modern shopping and entertainment centers in the Balkans, setting new standards for retail experiences in the region.<img src="https://placewise.imgix.net/images/api/retailhubjs/49343950c29c9bd3de957657f943107e.jpeg">QTU, developed by BALFIN Group, is Albania’s first modern shopping center and continues to be a landmark retail destination, combining convenience, variety, and a family-friendly atmosphere.ACROSS: Why has retail park development been slower in your region compared to Serbia?Toth: The answer lies in the land acquisition process. It’s extremely fragmented. Large land parcels are often owned by dozens of individuals. Without deep local knowledge, it’s nearly impossible to secure these plots. BALFIN adds value by having the local presence and legal expertise to navigate these challenges.ACROSS: How are retailers responding to your retail park strategy?Toth: Very positively. Established retailers in the region are eager to expand with us, and new brands are entering. BALFIN’s portfolio approach enables scalable agreements. We also offer franchise, logistics, and operational support.ACROSS: Which major brands are currently missing in Albania?Toth: The most requested brand is undoubtedly IKEA. Other underdeveloped retail segments include pet supplies, children’s goods, affordable fashion, and specialty stores.ACROSS: What can you tell us about the expansion of TEG, your flagship mall in Tirana?Toth: The expansion will enhance entertainment and F&amp;B offerings and create space for premium and mid-range fashion brands. We’re also improving parking infrastructure by introducing multi-level solutions.<img src="https://placewise.imgix.net/images/api/retailhubjs/087a9cecd582128fdeae540d7c8c04fc.jpeg">Tirana East Gate (TEG) is one of the largest shopping and entertainment centers in Albania. It serves as a key retail and lifestyle destination in the Western Balkans, attracting millions of visitors annually and playing a significant role in the region’s commercial development.ACROSS: Will the retail park developments compete with your malls?Toth: Not at all. They serve different demographics and needs. Retail parks offer convenience to suburban and rural populations, whereas malls provide a broader, more experiential offering. They are complementary.ACROSS: How do hospitality and residential assets fit into your broader strategy?Toth: In our core markets, retail will continue to dominate. But internationally, we see greater opportunity in hospitality and residential.<img src="https://placewise.imgix.net/images/api/retailhubjs/ce2869d7bf356dcb9082ed884be4c389.jpeg">The Galeria Project by BALFIN Group is a modern urban development concept that blends retail, entertainment, and lifestyle spaces to revitalize city centers and enhance community living<img src="https://placewise.imgix.net/images/api/retailhubjs/b86abbd4ea90ad5dda0f5d1eb816f7c1.jpeg">The Green Coast Project by BALFIN Group is a premium seaside development that redefines luxury living on the Albanian Riviera, offering high-end residences, hospitality, and lifestyle experiences in harmony with nature.<img src="https://placewise.imgix.net/images/api/retailhubjs/49ad30872af4f5970ea9942184331998.jpeg">La Vista by BALFIN Group is a contemporary residential and hospitality development designed to offer panoramic sea views, refined comfort, and a modern Mediterranean lifestyle on the Albanian coast.ACROSS: What message would you send to European retailers considering entry into the Western Balkans?Toth: Come and see for yourself. The region’s potential is not captured in spreadsheets. But entering blindly is risky. BALFIN can offer a complete entry solution.ACROSS: Are there plans to brand your retail parks under a single identity?Toth: We are discussing it. Branding is under consideration and will likely take shape in the next six months.ACROSS: How would EU membership affect your business?Toth: It would be a game-changer. It would remove logistical and regulatory barriers and create a unified economic zone.ACROSS: Why are major international real estate agencies underrepresented in your region?Toth: Many operate remotely from cities like Belgrade or Zagreb. You need local offices to understand and serve the market.ACROSS: Do you manage your own data and benchmarking?Toth: Yes. There’s a lack of reliable third-party data, so we benchmark internally and manage property functions in-house.ACROSS: How important is sustainability for BALFIN?Toth: It’s vital. Sustainability is about more than solar panels – it includes governance, environmental impact, and community engagement.ACROSS: Do customers respond to sustainability efforts?Toth: Increasingly, yes. Consumers are starting to prefer brands with strong sustainability track records.ACROSS: What role does digitalization and PropTech play in your strategy?Toth: A major one. We’re investing in tools to automate benchmarking, analyze customer data, and enhance tenant interactions.ACROSS: In a nutshell, what will BALFIN stand for in the coming years?Toth: BALFIN is here for the long haul. We are strategic, committed, and locally rooted but globally minded. We believe in thoughtful, sustainable growth and strong partnerships.

BALFIN Group: Shaping the Future of Real Estate

<img src="https://placewise.imgix.net/images/api/retailhubjs/c498aa6b3c777ea8114ed8a6742f63ae.jpeg">TEG Opens Its Doors to Creativity with the “Art &amp; Crafts” ExhibitionTEG has launched the exhibition “ART &amp; CRAFTS – Experiments and Expressions on Soft Surfaces”, a unique installation adapted specifically for the mall’s spaces. More than just an art showcase, this initiative, which already a tradition in TEG’s history, supports young talent and creativity, highlighting the continued commitment of Albania’s largest shopping center to back students and youth through engaging initiatives with real impact on their professional journeys.The exhibition centers on the talented students at the University of Arts and is made possible by TEG within the B4Students program. This program was created to offer new opportunities, encourage and promote student success in entrepreneurship, social initiatives, and career development by supporting their needs. B4Students is part of Mane Foundation.“Art &amp; Crafts” invites the public on a visual and material journey that reveals the creative process behind contemporary textile and graphic works. Visitors will have the opportunity to see how raw materials - like fabrics, dyes, and structures - are transformed by students into works of art through both traditional and modern techniques in graphics and textiles. Each piece tells a story of exploration, experimentation, and the transformation into a finished product.What can you experience in this exhibition?You’ll get a close-up view of how an idea is born and takes shape through sketches, compositions, and material selection. The students’ textile works convey powerful messages through color and hand-crafted interventions, turning simple pieces of fabric into deeply personal stories by these young artists. In another section, you'll find graphic experiments on t-shirts, bags, and everyday items, where each layer of color reflects the courage to challenge convention. What makes it truly special is that during the exhibition's opening and closing days, the students will be present to demonstrate their creative processes, inviting you to interact with them directly.The opening ceremony took place yesterday, attended by the young artists, their peers, and faculty members. Professor Ardian Isufi praised the students’ work, highlighting the valuable opportunities that TEG and the Mane Foundation offer to young talents.Meanwhile, Iris Velo, representative of TEG, stated:“This project places young artists in direct contact with the community and art lovers, creating new bridges of communication. The exhibition is part of TEG’s ongoing commitment to support youth education and help them in their professional development by turning the mall’s spaces into hubs for cultural and social activities.”By giving a platform to emerging talents, TEG transforms into a destination for art and culture during these days, infused with the passion and potential of the new generation of Albanian artists.The exhibition is open to the public in TEG and will continue until July 23rd.

“Art & Crafts”

<img src="https://placewise.imgix.net/images/api/retailhubjs/dcd56941f08aedd74f47bcb89738b784.jpeg">“RICIKLO – KREATIV 2025”: The International Architecture Competition Promoting Sustainability through Student CreativityThe international student idea competition “RICIKLO – KREATIV” returns for its fourth consecutive edition, once again placing creativity, sustainable design, and youth empowerment at its core. Young people from Albania, Kosovo, North Macedonia, and Montenegro will have the opportunity to challenge themselves by designing lighting installations for public spaces, using recyclable materials.Organized by the Faculty of Architecture and Urban Planning (FAU) at the Polytechnic University of Tirana, the competition is held in collaboration with B4Students, Tirana East Gate (TEG), and supported by the Mane Foundation. Together, they build a partnership where education, youth, and business work towards a common goal: fostering sustainability and impactful design.B4Students, a program initiated by the Mane Foundation, supports young people through grants, professional internships, and personal development opportunities. Through this program, new talents are involved in projects that generate real community impact and hold educational and social value.TEG, as a long-standing partner of students and social initiatives, provides a public platform to showcase the best student ideas, transforming the shopping center’s spaces into a creative exhibition for 15 days where visitors can vote for their favorite piece. This offers a unique way to bring architecture and sustainability closer to the public.Each year, the competition has gained increasing attention and participation, becoming an event of international character. In previous editions, students from all Albanian-speaking regions have presented their creative projects, offering functional solutions with tangible environmental impact.The deadline for online registration is July 31, 2025. Participation is open to students of Architecture, Urban Planning, and Interior Design, who may apply individually or in groups of up to three members.To take part in&nbsp;RICIKLO – KREATIV, visit the official FAU website or&nbsp;<a href="http://teg.al/" rel="noopener noreferrer" target="_blank" style="color: rgb(47, 44, 48);">teg.al</a>.

“RICIKLO – KREATIV 2025”: The International Architecture Competition Promoting Sustainability through Student Creativity

<img src="https://placewise.imgix.net/images/api/retailhubjs/4f9c2d822e1b0c0d42860462d39484c1.jpeg">Tiranë, 27 March- Zara Home reopens the doors of the store located in the Tirana East Gate shopping center. A space of 376 m² distributed in the different rooms that make up a house.Warm, organic materials in neutral tones are the protagonists in the decoration of the store. In terms of materials, natural materials such as natural mortar and fine woods are combined.Tirana East Gate customers can access the daytime areas, such as the living room and kitchen, from the entrance, with a selection of table linen, tableware, cutlery and glassware, which is renewed with different proposals for every moment of the season.From these rooms, access is provided to the night-time areas, such as the bedroom and a dedicated space for the little ones, complete with a specific area for newborns, as well as decorative ideas for their rooms, textiles, furniture and a play area.At the back of the store is the bathroom area and a space for cosmetics, where the home fragrance collection is presentedTechnology and Shopping Experience.When it comes to technology, the store embodies Zara Home’s retail concept, equipped with state-of-the-art technological tools to offer customers a seamlessly integrated experience with the online platform.About Zara Home and the Inditex Group.&nbsp;Zara Home is the home furnishing brand of the Inditex Group. Its collections offer everything needed to decorate different spaces with a style that is simple yet timeless. Launched in 2003, the brand now operates in over 60 markets with more than 400 stores. As the brand evolves, its focus remains on accompanying and leaving an impact on customers, always with a clear emphasis on quality. Over time, Zara Home has developed inspiring special collections, extending its product range into lifestyle offerings. Zara Home is part of the Inditex Group, together with Zara, Pull&amp;Bear, Massimo Dutti, Bershka, Stradivarius and Oysho. With a business model driven by innovation and customer service, Inditex operates an integrated platform of physical and online stores across more than 200 markets. The company is also committed to achieving climate neutrality by 2040.

Zara Home reopens the store at Tirana East Gate in Tiranë

<img src="https://placewise.imgix.net/images/api/retailhubjs/93c5b21f506df7bb6ae722988dca0340.jpeg">Parashikimi i yjeve: Fiksimi juaj me blerjet mund të shpërblehet këtë maj në TEG me HappyPavarësisht nëse je një Dem me shije për këpucët designer, një Binjak të cilit i është tekur të ndryshojë stil, ose një Luan që synon një çantë “statement”, universi (e sidomos TEG dhe Happy) mund të ta shpërblejë blerjen e radhës.Nëse keni pritur për një shenjë për të llastuar veten, tashmë e keni gjetur. Sipas yjeve - ose të paktën sipas TEG dhe programit të besnikërisë Happy - maji po i vjen për shtat më së miri adhuruesve adhuruesve të modës, gjuetarëve të bukurisë por jo vetëm - edhe blerësit e përditshëm këtë muaj do të kenë fat.Me Happy, blerjet në TEG këtë maj vijnë me pak më shumë fat kozmikNga data 15 deri në 31 maj, TEG lançon një fushatë që i kthen blerjet e tua në një shans për të fituar - me zero përpjekje shtesë. Gjithçka që nevojitet është karta Happy, një arsye për të blerë (e cila, le të themi të vërtetën, rrallëherë na mungon) dhe pak besim në fuqinë e zakonit.Astrologjia e blerjeve: Sa më shumë të blesh, aq më të shndritshëm yjet e tuÇdo skanim i kartës suaj Happy në dyqanet pjesëmarrëse:&nbsp;SPAR, Neptun, Jumbo, Max Optika, Aldo, Mango, Okaidi, Carpisa, Parfois, Geox, Springfield, Cortefiel, Prenatal, Woman Secret, Guess, Tommy Hilfiger, Samsonite, Timberland&nbsp;në TEG është një mundësi për të fituar. Ja se si funksionon: kur blini në dyqanet e lartpërmendura dhe përdorni kartën Happy, hyni automatikisht në një short çmimesh. Nuk ka formularë regjistrimi, rrota fati apo pyetësorë të vështirë. Thjesht skano kartën, buzëqesh dhe vazhdo me ditën tënde.Dhe ndryshe nga leximi i fundit i horoskopit, rezultati këtu është mrekullisht i qartë:&nbsp;10 fitues&nbsp;me fat do të marrin&nbsp;një kartë dhuratë prej 5000 lekësh&nbsp;nga TEG, plus&nbsp;10,000 pikë bonus në aplikacionin Happy, të barazvlefshme me 11,500 lekë kupona&nbsp;në dyqanet partnere. Ky është një kthim në nivel kozmik për të bërë diçka që me siguri keni planifikuar të bëni gjithsesi.Shenjat që jeni duke blerë në vendin e duhurKa diçka të vecantë në ritmin e një dite të zakonshme blerjeje në TEG. Zhurma e qetë e njerëzve që shqyrtojnë prurjet e reja, familjariteti i dyqaneve që frekuenton gjithmonë dhe ajo vala e vogël e gëzimit kur më në fund vëren diçka që nuk e dije se të nevojitej.Për shumë prej nesh, blerja nuk është një punë e përditshme, përkundrazi, një pushim nga e përditshmja, një moment i vogël kujdesi për veten apo të tjerët. Dhe tani, TEG në partneritet me Happy e kthen këtë përvojë në diçka edhe më shpërblyese.Mund të jesh një Virgjëreshë që krahason me përpikëri çmimet e elektroshtëpiakeve në Neptun, Peshorja e dyjëzuar midis takave dhe të sheshtave në ALDO, ose një Gaforre që zbukuron folenë në JUMBO, blerjet e tua sipas yjeve llogariten njësoj. Sa më shumë blerje, aq më shumë fat.Pjesa më e mirë? Fushata nuk kërkon që të ndryshoni asgjë në lidhje me rutinën tuaj. Ju vijoni pazarin me një arsye shtesë për t'u ndjerë me fat.Universi e do një blerës besnikLe të flasim për besnikërinë. Karta Happy, për shumë njerëz, tashmë është bërë një ndihmës i rastësishëm - duke mbledhur pikë në heshtje me çdo transaksion. Kjo fushatë bazohet pikërisht në këtë ide të thjeshtë: ju shkoni në TEG, bëni blerje dhe sistemi kujdeset për pjesën tjetër. Çdo transaksion është një biletë. Çdo ditë është një shans i ri.Një inkurajim i vogël planetarNë frymën e mençurisë astrologjike: nëse të jep ndjesinë e duhur, blije. Dhe nëse yjet (ose më mirë, ekipi i marketingut të TEG dhe Happy) po premtojnë shpërblime për blerjet, atëherë përqafoje këtë sugjerim kozmik.Pra, këtë muaj, mos harro kartën Happy (ose më thjeshtë akoma, aplikacionin) në vizitën e radhës në TEG. Është guri yt me fat në një lojë që as nuk e dije se po luaje. Dhe këtë maj, yjet dhe shanset janë në favorin tënd.

Parashikimi i yjeve: Fiksimi juaj me blerjet mund të shpërblehet këtë maj në TEG me Happy

<img src="https://placewise.imgix.net/images/api/retailhubjs/fa882078d25209a52697b8d5ca3c3b93.jpeg">ZARA CELEBRATES ITS 50TH ANNIVERSARY&nbsp;On May 9, 1975, Amancio Ortega opened the first Zara store in A Coruña, Spain. At the time, his company, Confecciones GOA, had been producing garments for a little over a decade, since 1963. The opening of this first Zara establishment marked a pivotal moment for a company that has been making and distributing clothing ever since. Under the Zara brand, the company emerged as a fashion retailer with Women’s, Men’s, and Kids’ collections and gradually built and strengthened a philosophy of placing its customers at the heart of its decision-making, listening attentively to their preferences, and offering them quality fashion at affordable prices. Through a comprehensive analysis of its global sales and trends in all its markets in real time, the company gains valuable insights that are embedded into its collections by its more than 300 designers and commercial teams. This creative process has been further enriched through collaboration between Zara and renowned creators and designers. The brand’s international footprint in 98 physical markets and 214 online markets as of 2025 has allowed Zara to strengthen its dialogue with customers throughout the world. Zara remains focused on offering a seamless shopping experience, blending physical stores and an integrated online platform to meet customers wherever they are. At the same time, Zara stores have emerged as unique projects in which architecture, design, construction materials, and historical references blend seamlessly with the latest technology. This creative flexibility, allowing the collection to evolve throughout the season, combined with agile production, efficient logistics, a network of stores in the best locations, an online platform, and an ever-evolving shopping experience, forms the essence of Zara’s 50-year legacy.&nbsp;ZARA’S FIRST STORE ON JUAN FLÓREZZara’s first store opened on Calle Juan Flórez in A Coruña, Spain, on May 9, 1975. This marked Amancio Ortega’s entry into the retail world, following his success in women's clothing production through his company, Confecciones GOA. Five decades later, as this store and the brand turn 50, it is essential to pay tribute to its roots and honor the place where it all started. The distinctive “galerías” on the seafront buildings of A Coruña, which are part of the architectural DNA of the city, now become the main feature of this “new store,” which has been temporarily adapted specifically for this anniversary. This architectural installation frames a unique display of limited-edition pieces and objects created to commemorate these 50 years of Zara. The charm and playfulness of the design and the imaginative use of scale engage local and international visitors. They can also access a café and a boutique lounge, where they can browse the bookshelves stocked with an extensive collection of magazines published from May 1975 until today, offering a chance to rediscover 50 years of fashion, art, and culture. During this anniversary year, the Juan Flórez store becomes not only a celebration of the brand but also a tribute to the city’s architectural heritage and its history.&nbsp;50 YEARS 50 ICONS FILM50 years, 50 icons. To honor the 50th year of Zara, Steven Meisel stages a spectacular motion image collaboration with 50 of the greatest models in the world – a unique celebration of creativity, longevity and love for fashion, instigated by Marta Ortega Pérez, in respect of her long-standing friendship and love of Steven’s work. These 50 models are gathered together, for the first time, and are captured by Meisel in performance – every one of them singing Donna Summer’s 1977 hit ‘I Feel Love’. The film commemorating this landmark moment is released on May 9 2025 – exactly 50 years to the day of the opening of the first Zara store in A Coruña, in Galicia, Spain. Marta Ortega Pérez, Inditex non-executive chair, says “Creativity is the heart of Zara - it is the characteristic that defines us. This incredible film by Steven Meisel is an expression of creative freedom, and the magic we always want to create. And it stars 50 of the world’s leading models - celebrated for their beauty but also their characters, their individualities and their strength – celebrating Zara as we turn 50. This campaign is a testament to everything the teams at Zara have created over the past five decades, honoring their enthusiasm, talent and boundless Creativity.” The cast featured in the film are: Abbey Lee, Adriana Lima, Alek Wek, Amar Akway, Amber Valletta, Amelia Gray, Awar Odhiang, Candice Swanepoel, Carla Bruni, Caroline Trentini, Carolyn Murphy, Christy Turlington, Cindy Crawford, Doutzen Kroes, Edie Campbell, Eva Herzigova, Fei Fei Sun, Georgia Moot, He Cong, Imaan Hammam,Irina Shayk, Iselin Steiro, Joan Smalls, Julia Nobis, Karen Elson, Karlie Kloss, Lexi Boling, Lina Zhang, Linda Evangelista, Liya Kebede, Lulu Tenney, Mariacarla Boscono, Marisa Berenson, Maty Fall, Meghan Collison, Mona Tougaard, Naomi Campbell, Natasha Poly, Paloma Elsesser, Paulina Porizkova, Penelope Tree, Precious Lee, Rianne Van Rompaey, Rosalieke Fuchs, Sascha Rajasalu, Sasha Pivovarova, Sora Choi,Twiggy, Vittoria Ceretti and Yasmin Warsame. The collection featured in the film will be available at&nbsp;<a href="http://zara.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(111, 44, 145);">zara.com</a>&nbsp;and in selected Zara stores worldwide.