SPAK steps back in Zvërnec case, unfreezes Qatari company bank accounts

 Albania’s Special Anti-Corruption Structure (SPAK) has reportedly taken a step back in its investigation related to the tourism development project in Zvërnec, unfreezing the bank accounts of a Qatari company involved in the coastal investment.

The graphic shows that the Special Prosecution Office (SPAK) has decided to release the funds of the company "Albania Land Development" owned by Qatari brothers, Moutaz and Ramez Al-Khayyat, shifting the focus of the preventive investigation to the legality of the sellers and the origin of the alienation of lands on the Zvërnec coast.

Just 24 hours earlier, these accounts had been frozen as part of an investigation into suspicions of a possible scheme involving the alteration or transfer of property ownership in the Zvërnec area. The initial measure drew attention due to the involvement of foreign investors in a high-profile tourism project.

According to available information, the unfrozen accounts belong to a company linked to Qatari billionaire brothers Ramez and Mohamad Al-Khayyat, who are connected to development plans in the area.

Reports suggest that the decision to lift the freeze was made swiftly, allegedly to avoid a potential legal confrontation at the International Court of Arbitration. However, the investigation has not been fully closed.

SPAK continues to examine the legality of land ownership and how property transfers in the coastal area were conducted, as part of a broader inquiry into suspected irregularities.

As part of the same investigation, accounts belonging to “Albania Land Development” had previously been seized, as the authority looks into multiple entities involved in development projects in the Zvërnec region.