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Korca

The Old Bazaar of Korça is an ensemble of trade, craft, and residential buildings with urban-architectural and artistic values that dates back to the 19th century. The collection of buildings is a testimony to the existence of craftsmen and tradesmen who at that time had a deep influence on the economic and social life of the country. The AADF has partnered with the Government of Albania, Municipality of Korça and the local business community to revitalize the Old Bazaar of Korça. The bazaar has become one of the main tourist attractions of the city, a must-see experience. AADF restauration portion was completed by October 2015. The Foundation is also supporting businesses operating in the area with advisory services as well as small grants in order to improve their efficiency and make the best use of the new opportunities which are being created. A businesses association named TID Korça, was founded in coordination with the Municipality of Korca and businesses in the area on March 2017. The association is leading and overseeing the daily management of the area.

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  • 12.14.2018

    Light Fest 2018 in Korça

    Light Fest 2018 in Korça

    The city of Korça, on December 8, officially started the holiday season period thanks to the “Light Festival”! For the fifth consecutive year, the event was organized in the pedestrian area of ​​Korça, where around 20,000 visitors attended the spectacle of lights along the boulevard, and the musical performance of the wellknown artists Endri & Stefi Prifti. The event coincided with the 5th anniversary of the establishment of the local business association BID Korça, which on this occasion organized a reception in one of the new businesses of the area. The festival was later moved to the Old Bazaar, or otherwise known as TID Korca, transformed by AADF. The festive atmosphere was quite lively even here thanks to the impressive décor enabled by AADF, Korça Municipality as well as TID Korça association. AADF’s financial support to the wonderful holiday atmosphere in the southeast city this end of the year was around $ 10,000. The support of the Foundation will continue in the coming years, which has brought a huge development into the transformation of the pedestrian areas of Shkodra and Berat, the Bazaar of Gjirokastra, Kruja, Vlora, and the New Bazaar in Tirana. 

    Detailed description

  • 08.28.2018

    Call for Application, Grant Supporting Scheme – TID Korça

    The AADF is glad to announce the next excellent opportunity to benefit from our Business Grant Support Scheme for investing in the Old Bazaar of Korça. An Open Call for Applications has just been launched in collaboration with TID Korça Association. We would like to invite for cooperation all the interested individuals, businesses and young entrepreneurs, in investing in this popular and profitable site. The qualified applicants will be supported by sharing initial business costs. The aim of this initiative is encouraging sustainable growth of businesses that deliver unique experiences to Korça’s Old Bazaar. If you have an interesting idea, don’t miss this opportunity to join the trendiest place of the southeastern town. Applications will be accepted till the 15th of October 2018.
    For detailed information about this Support Scheme, please download Call for Application.

  • 08.15.2018

    Beer Fest at Korça’s Bazaar

    Beer Fest at Korça’s Bazaar

    One of the most popular festivities in the city of Korça is without a doubt the Beer Fest, which this year was held from the 8th to the 12th of August. For the third year in a row, the AADF co-financed the organization of this event at the Old Bazaar of Korça, known as TID Korça. Since the revitalization of the Old Bazaar, this space has seen a growing number of visitors, thanks to the new businesses added in this area, and to the many events held throughout the year. More than 5,000 visitors per day enjoyed the Albanian beer, its tasty cuisine, and the performance of some of the most interesting DJ-s and performers coming from the national and international music scene.

    Detailed description

  • 08.18.2017

    “Beer Fest” Event

    “Beer Fest” Event

    The city of Korça, from the 10th to the 13th of August 2017, hosted the 11th edition of the “Beer Fest”. The Albanian American Development Foundation supported for the second year the organization of this event, which was situated in two different locations. The Old Bazaar of Korça, known widely as TID Korça, was one of the selected scenes. The old building with their traditional architectonic style and the Bazaar Square with its characteristic pave made the perfect frame for the amazing atmosphere of the “Beer Fest”. The Albanian beers, the tasty regional cousin and the good music played by national and international artists were the leitmotiv of the activity.

    During the five days of the event the town was visited by more than 25,000 tourists daily. From them, nearly 5,000 visitors each day chose to party in the Old Bazaar.

    The AADF supported the event financially and with human resources through the TID Korça association. Following the key role that AADF had in the revitalization of the Old Bazaar of Korça, the Foundation continues to be one of the major partners of the city through its development projects.

    Detailed description

     

  • 01.13.2017

    Breathing new life at Korça Old Bazaar

    Breathing new life at Korça Old Bazaar

    Top brands from Tirana and Korca are expanding their business in Korca Old Bazaar. Restaurants, coffee shops and bars, hotels, retail brands, started operating from the end of December 2016 in Korca Old Bazaar. The Korca Old Bazaar Revitalization Grant Program, co-financed from the AADF and the Ministry of Economic Development, Tourism, Trade and Entrepreneurship, incentivized more than 20 businesses to start investing in the Bazaar. Such incentive follows the infrastructure restoration of Korca Old Bazaar, co-financed from the AADF and the Albanian Government. The investment in infrastructure was more than 4 million $.

    Detailed description

  • 07.06.2016

    Memorandum of Understanding Signed for the Old Bazaar of Korca

    Memorandum of Understanding Signed for the Old Bazaar of Korca

    Mr. Aleksander Sarapuli and Mr. Martin Mata, Co-CEOs of the Albanian-American Development Foundation and Mrs. Milva Ikonomi, Minister of Economic Development, Tourism, Trade and Entrepreneurship, signed the Memorandum of Understanding for the revitalization of the Old Korça Bazaar. A Grant Program was established which will apply to SMEs in this area and aims to attract strategic businesses for the development of the area. Goals of the program include extending services for visitors, increasing capacity for trade, and creating an attractive and developed area in the city of Korça which preserves the traditional and cultural elements of the bazaar. The financial contribution of AADF and the Ministry is 29,000,000 ALL each, and this fund will be implemented by the Albanian Investment Development Agency and Crimson Finance Fund Albania (CFFA). AADF is also supporting the establishment of the TID Korça Association, the development of the Management Plan for the area and the installation of a security camera system.
    Detailed description

     

  • 10.03.2015

    Inauguration of the Renovation of the Old Korca Bazaar TID

    Inauguration of the Renovation of the Old Korca Bazaar TID

    The inauguration ceremony celebrating the completion of construction work at the Korca Bazaar was attended by Deputy Prime Minister, Mr. Niko Peleshi; Minister of Culture, Ms. Mirela Kumbaro; Mayor of Korca, Mr. Sotiraq Filo, AADF Board of Trustees and the AADF Executive Management and Staff. The Old Korca Bazaar is an Albanian heritage site going back to the Ottoman era. The AADF has committed $1.9 million to the project and the Government of Albania has committed another $3 million. The Korca Bazaar TID will complement the AADF-implemented Korca BID. Eight building blocks have been rehabilitated in the TID zone. All shop owners returning to the area will receive grants from the AADF in order to improve and strengthen their businesses.

    Korca Mayor, Mr. Sotiraq Filo honored the AADF Board of Trustees with the “Citizen of Honor” Award for their commitment towards the economic development of the city.

  • 04.12.2015

    Groundbreaking Ceremony for Restoration of Korça Bazaar

    Groundbreaking Ceremony for Restoration of Korça Bazaar

    The AADF, the Ministry of Culture, the Ministry of Urban Development and the Municipality of Korca are teaming up to rehabilitate Korca’s Historical Bazaar.  Deputy Prime Minister Niko Peleshi, Korca Mayor Sotiraq Filo and AADF Chairman Michael Granoff inaugurated the start of construction work in the area. The AADF is now in its third year of supporting urban and tourism-based entrepreneurship programs and has committed $3 million to the development of the city center of Korca.  AADF Chairman was presented with the “Honorary Citizenship Award” by Mayor Filo.

  • 02.10.2015

    TID Korca Launch Event

    What are TIDs?
    A Tourism Improvement District (TID) is similar to a Business Improvement District focusing in cities with tourism potential. Under the Entrepreneurship program the AADF has supported the creation of three BID/TID areas in the city of Korca, Shkodra, Berat and Kruja. Whereas in October 2014 the Albanian-American Development Foundation (AADF) Board of Trustees approved the TID project for the Old Bazaar in Korca.

    Advantages
    •    Increase in property values
    •    Better maintained and cleaner neighborhoods.
    •    Increase in business revenue due to the improved image of the district
    •    Improved visitor experience in the area
    •    The district becomes more attractive through joint marketing and events.

    Acknowledgments
    AADF Co-CEO Aleksander Sarapuli and Martin Mata / Minister of Culture Mrs Mirela Kumbaro / Minister for Urban Development Mrs. Eglantina Gjermeni / Mayor of Korca, Mr. Sotiraq Filo

    Korca Project Activities and Plans
    Key data on the Project in TID Korca:
    •    The AADF has currently committed $7 million in improving the city centers in Korca, Shkoder, Berat and Kruja.
    •    Korca is one of the most important cities in Albania. .
    •    The overall AADF budget for the Korca Bazaar is $1.9 million, whereas the Government of Albania has allocated $3 million for additional works in area.
    •    This project includes the design and restoration of 7 blocks of building in the heart of the Old Bazaar of Korca such as roofs, facades, lighting and signage.
    •    The AADF will provide a management plan for the area as well as provide business advisory services and business grants to businesses operating in the area.
    •    A TID association will be created by the AADF, Ministry of Culture, Municipality of Korca and business/owners representatives from the Bazaar. Its objective will be to promote as well as managing the TID area.
    •    The old Bazaar is one of the most distinguished historical sites in Albania.
    •    Promotional activities will also be carried out for locally produced food and other goods in and around the city.
    •    This is the second intervention from AADF in the city of Korca following the success of the reconstruction of the pedestrian area and creation of the BID Association in Boulevard Shen Gjergji with a total AADF investment of $1.1 million.

    The AADF intervention phase for the restauration of 7 blocks of buildings is expected to start in April 2015 and complete in December 2015.

  • 01.21.2015

    Korça Old Bazaar Restoration Design

    Korça Old Bazaar Restoration Design

    A view from the restoration project design of 7 blocks in the Korça Old Bazaar. This project design was financed by the AADF and prepared by the architectonic studio Consulting & Management Albania. The implementation will start soon and will be financed by AADF.