The list of the 100 highest-grossing companies for 2023 has been compiled and published by SEE News, one of the leading media outlets in the region covering economic and business developments. In an interview with SEE News, Edlira Muka, Chief Executive Officer of BALFIN Group, discusses the extraordinary 30-year journey of the Group, from its beginnings in Vienna to its status as a key player across various industries, including retail, real estate development, banking, tourism, and asset management. Ms. Muka also highlights the future of the Group, focusing on further expansion in Europe and North America, as well as strategic investments in the tourism sector, such as the Green Coast project in Albania, alongside other upcoming initiatives.

Edlira Muka, Chief Executive Officer of BALFIN Group

Reflecting on BALFIN Group's 30-year journey, how has BALFIN Group evolved since its founding in 1993 in Vienna?

Upon inception in 1993 in Vienna, the business focus has been more concentrated, yet the ambition was there. As opportunities arose, we expanded across multiple business sectors and regions. In time, the strategy has evolved to meet the demands of an increasingly complex global market, while remaining true to innovation, strategic partnerships, and a commitment to excellence. Today, retail, real estate development, banking and asset management are among the array of industries that BALFIN Group belongs to. This diversification has solidified our presence in many markets and enhanced our resilience. We have managed to blend the local expertise of the respective markets with international standards and thus have maintained our competitive edge even in the face of global challenges. Our corporate governance, supported by visionary shareholders, collaborative partnerships, and professional teams, continues to drive our success.

How does BALFIN Group manage its operations across such a diverse range of countries, from Europe to North America? What benefits and challenges arise from operating in multiple countries with varied economic and regulatory environments?

In order to remain competitive and innovative in each market, we need to be strategic and adaptable. We employ the best local expertise to that specific market, coupled with international standards that we apply uniformly across our group. This crucial role is played by our cross-border teams that collaborate to gather insight, spot opportunities and maintain leadership position in the respective markets.

This geographic presence offers significant benefits such as risk mitigation and new potential growth revenues. Being active in one industry in a given market or country provides the necessary ground to expand into complementary trades, further strengthening the market position. However, operating in varied legal and regulatory environments presents challenges as well. To navigate these complexities, we have developed a robust legal team and established regional working groups, ensuring compliance and optimizing operations.

Tourism is back at almost pre-pandemic levels globally, and Southeast Europe is emerging as a hotspot. Could you share some insights into your investment plans in this priority sector for BALFIN Group?

The industry is rebounding globally and yes, the Western Balkan countries are enjoying their moment of unprecedented attention for their tourism potential. The countries are heavily investing in infrastructure, and there is considerable room for further development. It is no surprise that Asset management and Hospitality are a key focus for BALFIN Group. Our investment strategies in this sector are driven by over 20 years of experience in the construction industry, which we have effectively transferred to the development of hospitality facilities.

The Green Coast project in Albania exemplifies our commitment to creating sustainable, high-quality tourism infrastructure that complements the natural 42 Operating on two continents, what makes BALFIN distinctive Edlira Muka, BALFIN Group CEO TOP100 Industries/interview 43 beauty of the region. This project of over 1 billion Euros is central to our strategy of harnessing Albania's coastline development potential. In addition to Green Coast, our partnership with Accor for the development of a MGallery hotel brings worldclass hospitality standards to Albania, attracting a more diverse and upscale tourist demographic.

Our hospitality investment strategies are further strengthened by partnerships with international financial institutions. These collaborations ensure the financial sustainability of our projects and adherence to international best practices. Environmental stewardship is a cornerstone of our tourism investments. We are committed to preserving the natural environment and ensuring that our projects positively impact the communities in which we operate. This includes adopting sustainable building practices and promoting eco-friendly tourism.

Looking ahead, we are exploring opportunities to replicate our successful models in other markets within the region. How does BALFIN Group identify and prioritise its strategic investment opportunities? Could you provide some details on the group’s investments for 2024- 2025?

Rigorous market analysis and understanding of global trends help us pinpoint investment opportunities. Of course, it helps that we have accumulated enough experience in the existing industries and markets. The final aim is growth and sustainable value creation. In the sectors that are of key importance to us, we are striving to sustain double-digit organic growth. Our international expansion will be centered around asset management, in collaboration with local partners that possess the right experience.

The retail strategy is to maintain leadership in the Western Balkans through new retail park additions in the network and becoming the local franchise partner for many other international brands that we believe have a proven concept for the success in the region. Also, Tirana Bank is working to make the most of its 21% growth of last year, by introducing new digital products and services and aiming at a bigger geographical footprint. Looking at the bigger picture, BALFIN Group is actively exploring new economic sectors and countries of activity. These ambitious plans are backed by a fundraising target of 450 million euros, mobilized through our network of investment partners and financial institutions. Looking ahead, we remain committed to building a better future with a lasting impact on society.

The link to the interview on SEE News: Operating on two continents, what makes BALFIN distinctive | Southeast Europe Investments News | SeeNews