The sales of the real estate arm of Albanian investment group Balfin increased by 120% last year compared to 2021, reaching 150 million euro ($160 million), the group said.

Balfin Real Estate and Hospitality's property sales outperformed the 2022 budgeted target by 85%, the group said in a corporate publication last week.

Most of the revenue came from sales of commercial and residential real estate.

Balfin’s real estate projects include residential complexes on the coasts of the Ionian Sea and Adriatic Sea, exclusive suburban villas and a low-cost multi-functional complex located near the Tirane-Durres highway.

Balfin Group operates in the fields of real estate, wholesale and retail, banking, media, logistics and education. According to the publication, the group’s activities extend to nine countries, including Albania, Kosovo, North Macedonia, Montenegro, Bosnia and Herzegovina, Croatia, Austria, Switzerland and the Netherlands.