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Shefqet Kastrati (born 1961) is a prominent Albanian entrepreneur and the founder and president of Kastrati Group, one of Albania's largest privately-owned conglomerates. Under his leadership, the group has expanded into various sectors, including hydrocarbons, insurance, construction, hospitality, and automotive distribution.
Early Life and Education
Shefqet Kastrati was born in 1961 in Kukës, Albania. Details about his early education and formative years are limited in public records.
Career
In 1991, following the fall of communism in Albania, Kastrati established his first fuel station in Kukës. Recognizing the demand for quality fuel products, he expanded his business by opening additional stations across the country. This venture laid the foundation for Kastrati Group, which has since become a leader in Albania's hydrocarbon industry. GLOBAL FDI REPORTS - ALBANIA
Over the years, Kastrati Group diversified its operations:
Hydrocarbons: The company operates over 150 fuel stations nationwide and has a storage capacity of 130,000 metric tons in Porto Romano, Durrës. It also manages a distribution fleet of 120 tankers, serving both retail and wholesale markets in Albania and neighboring countries. GLOBAL FDI REPORTS - ALBANIA
Insurance: Through its subsidiary, Albsig, Kastrati Group offers a range of insurance products, supported by partnerships with international reinsurance companies such as Hannover Re, Munich Re, and Lloyd's. GLOBAL FDI REPORTS - ALBANIA
Construction: The group has undertaken significant real estate projects, including the development of Downtown One, a 37-story mixed-use building in Tirana. Designed by the renowned architectural firm MVRDV, this project is set to be the tallest building in Albania upon completion. GLOBAL FDI REPORTS - ALBANIA
Hospitality: Kastrati Group has invested in the hospitality sector, partnering with international brands like Hyatt Regency to introduce new hotels in Albania. GLOBAL FDI REPORTS - ALBANIA
Automotive Distribution: Since 2015, the group has been the exclusive authorized distributor of Mercedes-Benz vehicles in Albania, operating through Auto Star Albania. GLOBAL FDI REPORTS - ALBANIA
Tirana International Airport
In December 2020, Kastrati Group acquired the management concession for Tirana International Airport (TIA) from China Everbright Limited. The transaction was valued at €71 million. CENTRE FOR AVIATION
Under Kastrati's leadership, significant investments have been made to modernize and expand the airport's infrastructure, aiming to increase passenger capacity and enhance service quality. By August 2024, TIA had welcomed 7.3 million passengers, a 56% increase compared to the same period in the previous year. Projections indicate that the airport will surpass 10 million passengers by the end of the year, underscoring its role as a regional travel hub. Monitor.al
Philanthropy
Kastrati is known for his philanthropic efforts, particularly in environmental conservation. The group has financed initiatives aimed at preserving national parks in Albania, including Butrint, Jezerce, and Theth. GLOBAL FDI REPORTS - ALBANIA
Recognition
In December 2017, Kastrati was named "Businessman of the Year" by the Albanian newspaper "Koha Jonë," acknowledging his significant contributions to the country's economy. GLOBAL FDI REPORTS - ALBANIA
Recent Developments
In 2023, Kastrati Group expanded its international presence by acquiring the SLS Brickell Hotel in Miami, USA, for $53.5 million. This marked the group's first investment in the United States. PILLSBURY LAW
Under Shefqet Kastrati's leadership, Kastrati Group continues to play a pivotal role in Albania's economic development, with ongoing investments across multiple industries.