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<img src="https://placewise.imgix.net/images/api/retailhubjs/85113e1de330d476fc9f1de4bd8dcf5a.jpeg">BALFIN Group: Shaping the Future of Real Estate in the Western Balkans and BeyondWith a dynamic mix of shopping malls, retail parks, hotels, and residential developments, BALFIN Group is setting new benchmarks for real estate in Southeast Europe. In this exclusive interview, the company’s Vice President of Real Estate Asset Management, Csaba Toth, outlines BALFIN’s growth strategy, from expanding its footprint across the Balkans to entering mature Western markets. He explains how the group is redefining retail, embracing digital innovation, and why its integrated approach makes BALFIN a one-stop gateway for international investors and retail brands eyeing this fast-growing region.ACROSS: From Free Intern to Regional Real Estate Leader: Let’s begin with your professional background. How did your career evolve, and what led you to BALFIN Group?Csaba Toth: My career in real estate has spanned more than 25 years, with a strong focus on Central and Eastern Europe as well as the Balkans. It all began with a moment of inspiration. I attended a lecture by Sándor Demján, one of the well-known businessmen and entrepreneurs from Hungary and one of the leading minds behind TriGranit, and I was so impressed that I offered to work for him for free. That risk paid off, and I spent the next 18 years at TriGranit.My time there covered virtually every vertical in the real estate sector: financing, asset and property management, and large-scale development projects. I spent ten years abroad, leading and supporting development projects in six countries including Poland, Romania, Croatia, Slovenia, and more.Later, I joined Prime Kapital in Romania, where I gained valuable insights into asset acquisitions and retail parks. After that, I led the hospitality department at CBRE Hungary, adding hotel and tourism assets to my expertise. When I joined BALFIN in April of last year, I brought with me a comprehensive, 360-degree view of the real estate industry.ACROSS: What are your main responsibilities at BALFIN and how has your role evolved since joining?Toth: The position I hold today didn’t exist before. BALFIN created the Vice President of Asset Management role specifically to consolidate its growing portfolio and bring international strategy and structure to it. My responsibilities include overseeing our entire operational portfolio, which consists of shopping malls, retail parks, hotels, resorts, and multi-use developments. I aim to introduce long-term strategic thinking, international best practices, and a robust asset management framework.ACROSS: Speaking of expansion, what international markets is BALFIN targeting?Toth: Our expansion strategy is tiered, but we have identified Italy, Austria, Greece, and the United States as our core focus. We already have a presence in Austria and are actively establishing offices in the other countries. Currently, we’re in due diligence or exclusivity on three major investment deals. Our initial focus abroad is on hospitality and residential projects.<img src="https://placewise.imgix.net/images/api/retailhubjs/4966e1b1f90889364a927ae914edfe9c.jpeg">Balfin’s International FootprintACROSS: Let’s turn to retail. How important is the retail sector to BALFIN Group?Toth: Retail is central to BALFIN’s DNA. We are pioneers in shopping mall development in the Western Balkans. We are integrating entertainment and leisure concepts into our malls in Tirana and Skopje. These are strategic enhancements designed to increase footfall, tenant mix sustainability, and customer engagement. We are also growing our retail park portfolio in secondary cities through a joint venture with Big CEE.<img src="https://placewise.imgix.net/images/api/retailhubjs/5ab16fa051426d391f21768364c2de2e.png">West Park, the first retail park in Albania, opened in Korça in 2023 and introduced a new retail sales concept.<img src="https://placewise.imgix.net/images/api/retailhubjs/f81bf508780d47bcd3294ff32b48126c.jpeg">East Gate Mall, developed by BALFIN Group, is one of the largest and most modern shopping and entertainment centers in the Balkans, setting new standards for retail experiences in the region.<img src="https://placewise.imgix.net/images/api/retailhubjs/49343950c29c9bd3de957657f943107e.jpeg">QTU, developed by BALFIN Group, is Albania’s first modern shopping center and continues to be a landmark retail destination, combining convenience, variety, and a family-friendly atmosphere.ACROSS: Why has retail park development been slower in your region compared to Serbia?Toth: The answer lies in the land acquisition process. It’s extremely fragmented. Large land parcels are often owned by dozens of individuals. Without deep local knowledge, it’s nearly impossible to secure these plots. BALFIN adds value by having the local presence and legal expertise to navigate these challenges.ACROSS: How are retailers responding to your retail park strategy?Toth: Very positively. Established retailers in the region are eager to expand with us, and new brands are entering. BALFIN’s portfolio approach enables scalable agreements. We also offer franchise, logistics, and operational support.ACROSS: Which major brands are currently missing in Albania?Toth: The most requested brand is undoubtedly IKEA. Other underdeveloped retail segments include pet supplies, children’s goods, affordable fashion, and specialty stores.ACROSS: What can you tell us about the expansion of TEG, your flagship mall in Tirana?Toth: The expansion will enhance entertainment and F&amp;B offerings and create space for premium and mid-range fashion brands. We’re also improving parking infrastructure by introducing multi-level solutions.<img src="https://placewise.imgix.net/images/api/retailhubjs/087a9cecd582128fdeae540d7c8c04fc.jpeg">Tirana East Gate (TEG) is one of the largest shopping and entertainment centers in Albania. It serves as a key retail and lifestyle destination in the Western Balkans, attracting millions of visitors annually and playing a significant role in the region’s commercial development.ACROSS: Will the retail park developments compete with your malls?Toth: Not at all. They serve different demographics and needs. Retail parks offer convenience to suburban and rural populations, whereas malls provide a broader, more experiential offering. They are complementary.ACROSS: How do hospitality and residential assets fit into your broader strategy?Toth: In our core markets, retail will continue to dominate. But internationally, we see greater opportunity in hospitality and residential.<img src="https://placewise.imgix.net/images/api/retailhubjs/ce2869d7bf356dcb9082ed884be4c389.jpeg">The Galeria Project by BALFIN Group is a modern urban development concept that blends retail, entertainment, and lifestyle spaces to revitalize city centers and enhance community living<img src="https://placewise.imgix.net/images/api/retailhubjs/b86abbd4ea90ad5dda0f5d1eb816f7c1.jpeg">The Green Coast Project by BALFIN Group is a premium seaside development that redefines luxury living on the Albanian Riviera, offering high-end residences, hospitality, and lifestyle experiences in harmony with nature.<img src="https://placewise.imgix.net/images/api/retailhubjs/49ad30872af4f5970ea9942184331998.jpeg">La Vista by BALFIN Group is a contemporary residential and hospitality development designed to offer panoramic sea views, refined comfort, and a modern Mediterranean lifestyle on the Albanian coast.ACROSS: What message would you send to European retailers considering entry into the Western Balkans?Toth: Come and see for yourself. The region’s potential is not captured in spreadsheets. But entering blindly is risky. BALFIN can offer a complete entry solution.ACROSS: Are there plans to brand your retail parks under a single identity?Toth: We are discussing it. Branding is under consideration and will likely take shape in the next six months.ACROSS: How would EU membership affect your business?Toth: It would be a game-changer. It would remove logistical and regulatory barriers and create a unified economic zone.ACROSS: Why are major international real estate agencies underrepresented in your region?Toth: Many operate remotely from cities like Belgrade or Zagreb. You need local offices to understand and serve the market.ACROSS: Do you manage your own data and benchmarking?Toth: Yes. There’s a lack of reliable third-party data, so we benchmark internally and manage property functions in-house.ACROSS: How important is sustainability for BALFIN?Toth: It’s vital. Sustainability is about more than solar panels – it includes governance, environmental impact, and community engagement.ACROSS: Do customers respond to sustainability efforts?Toth: Increasingly, yes. Consumers are starting to prefer brands with strong sustainability track records.ACROSS: What role does digitalization and PropTech play in your strategy?Toth: A major one. We’re investing in tools to automate benchmarking, analyze customer data, and enhance tenant interactions.ACROSS: In a nutshell, what will BALFIN stand for in the coming years?Toth: BALFIN is here for the long haul. We are strategic, committed, and locally rooted but globally minded. We believe in thoughtful, sustainable growth and strong partnerships.

BALFIN Group: Shaping the Future of Real Estate

<img src="https://placewise.imgix.net/images/api/retailhubjs/a0d11fadddf5a3fba7ec0e436599f55a.png">“Flea Market” Returns to QTU: Two Days of Play, Fun, and Learning for Kids!For the sixth consecutive year, QTU transforms International Children’s Day into an unforgettable celebration with the&nbsp;“Flea Market”&nbsp;— an activity that has now become a beloved tradition for many families. On May 31st and June 1st, the heart of QTU will come alive with the energy, smiles, and creativity of children aged 5 to 14, who will have the chance to buy, sell, or exchange their toys with one another — giving parents yet another reason to feel proud of their little ones.What do children learn?Over these two days, this unique activity invites all kids to become little entrepreneurs, having fun while developing important skills in a warm and safe environment created just for them.<ul><li>Entrepreneurship and initiative:&nbsp;Children learn to organize a “mini-business” by setting prices for their toys, communicating with “customers,” and making small but meaningful decisions.</li><li>Communication and social interaction:&nbsp;By exchanging toys with peers, they strengthen their ability to express ideas, listen to others, and build healthy relationships.</li><li>Self-confidence, responsibility, and management:&nbsp;Each child takes care of their toys and learns to manage the money or coupons they earn from trading.</li><li>Environmental awareness:&nbsp;Through the concept of recycling and reusing toys, they gain an understanding of caring for the environment and living sustainably.</li></ul>Exciting surprises for participantsOnce again this year, the exclusive partner of this special event is&nbsp;Jumbo, kids’ favorite brand and much more. Jumbo will also be giving out coupons to all mall visitors during the Toy Market.And as the cherry on top, all children participating in the&nbsp;“Flea Market”&nbsp;will get to watch the brand-new&nbsp;Lilo &amp; Stitch&nbsp;movie for free at Cineplexx — a small gift for a big day.For parents who wish to give their children a different experience full of value and fun, registration for the&nbsp;“Flea Market”&nbsp;is easy via the form on&nbsp;<a href="http://qtu.al/" rel="noopener noreferrer" target="_blank" style="color: rgb(47, 44, 48);">qtu.al</a>&nbsp;(click here to go directly to the form).

 “Flea Market” Returns to QTU: Two Days of Play, Fun, and Learning for Kids!

<img src="https://placewise.imgix.net/images/api/retailhubjs/cff683dd3260305e5ff8e7241c29ee3b.jpeg">World Down Syndrome Day — QTU Speaks Through Actions and the Language of InclusionOn World Down Syndrome Day, QTU has chosen to remind visitors and the community of the importance of inclusion and support for people with Down Syndrome.On March 21st — a date that reminds us that an extra chromosome is simply one more reason to celebrate uniqueness — QTU is sharing powerful messages of awareness, acceptance, and love. At the heart of the center, a unique installation has been set up, inviting all passersby, visitors, and employees to leave their handprints in the symbolic colors of the global campaign — painting or writing encouraging messages for people with Down Syndrome.The social activities undertaken by QTU are supported by the Mane Foundation, which, under the special care of its founder Mr. Samir Mane, focuses its contributions on education, the environment, cultural heritage, and the health and well-being of specific social groups.As part of World Down Syndrome Day, QTU’s staff has joined the “Colorful Socks” campaign organized by the Down Syndrome Albania Foundation, which supports children with Down Syndrome through therapeutic services. You can find these “Colorful Socks” at the Okaidi store in QTU, inviting everyone to become part of the initiative.In addition to the activities organized for World Down Syndrome Day, the QTU staff has chosen to participate in the “Colorful Socks” campaign and help contribute, even in a small way, to the funds collected for the therapeutic services provided to children with this syndrome. The “Colorful Socks” can be found at the Okaidi store in QTU, which invites you to join this meaningful cause too.

World Down Syndrome Day — QTU Speaks Through Actions and the Language of Inclusion

March 7, 8 and 9 – mark your calendars for the best shopping opportunity of the year –&nbsp;up to 70%&nbsp;off at QTU’s Shopping Festival.The Shopping Festival is an annual tradition, much anticipated by QTU visitors. It is labeled as a “festival” because it truly is such – a celebration of shopping, unique personal style, and great deals.Whether you are looking to refresh your wardrobe with brands Mango, Carpisa, Parfois, Koton, Jack &amp; Jones, and more, buy electronics at Neptun, personal care products, or home essentials, this is the perfect chance to grab your wishlist off the shelves at unbeatable prices.Here is why you shouldn’t miss the Shopping Festival:•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smart Shopping: Get&nbsp;up to 70% off&nbsp;a wide range of stores, making it the perfect time to find the perfect gift for yourself, family, and friends.•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exclusive Offers: Brands present at QTU prepare promotions available only during the Festival, so make sure to take advantage of limited-time offers!•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beyond shopping: QTU has entertainment for all visitors. BO Bowling, Cineplexx, and numerous gastronomic options like Sach’s Pizza welcome you.For two decades, QTU has been more than just a shopping mall – it has been a part of happy memories and shopping for thousands of families. As the first shopping mall in Albania, it has brought a new way of shopping, turning every visit into a celebration. This year, on its 20th anniversary, QTU continues to write the history of style, fun and fantastic offers – and the Shopping Festival is the best way to celebrate this moment.Are you ready to shop, save, and party at the Shopping Festival? March 7-9, from 09:00-21:00, come to QTU, enjoy the atmosphere and make the most of this shopping extravaganza!&nbsp;<a href="https://www.qtu.al/" rel="noopener noreferrer" target="_blank" style="color: rgb(227, 33, 32);">Browse the brochure on&nbsp;</a><a href="http://qtu.al/" rel="noopener noreferrer" target="_blank" style="color: rgb(227, 33, 32);">qtu.al</a>&nbsp;to discover all the offers, and&nbsp;<a href="https://linktr.ee/qtu_albania" rel="noopener noreferrer" target="_blank" style="color: rgb(227, 33, 32);">download QTU Club</a>&nbsp;to enjoy exclusive gifts and discounts!

Shopping Festival at QTU comes with up to 70% off: Are you ready?

<img src="https://intranet.balfin.al/wp-content/uploads/2025/02/cover-scaled.jpg">“Only 6 kilometers from Tirana, there is a place where you can start your day with a coffee, shop for yourself and your family, watch a movie at the cinema, and enjoy delicious food at the restaurants on the second floor of this shopping center.”This is just one of over 1,700 positive reviews about QTU. A review that best reflects what QTU represents: a comprehensive destination where an entire day revolves around you.Almost 20 years after its inauguration and 7 years after its full redesign and renovation, QTU continues to break visitor records and introduce new things. The year 2024 saw a significant increase in visits, with December being the most successful month so far.<img src="https://intranet.balfin.al/wp-content/uploads/2025/02/halls-scaled.jpg">Why is QTU the first choice for consumers?Beyond statistics, it is the visitors themselves who highlight what makes QTU attractive. With a 4.5-star rating on Google and TripAdvisor, customers appreciate the comfortable spaces, the wide range of brands, and the unique entertainment options. For those drawn by the missing half-star, what stands out is how visitors notice the staff’s efforts to improve the shopping center.“This shopping center has truly improved a lot over the years and deserves 5 stars,”&nbsp;– writes a regular visitor.“We are happy that QTU remains one of the service leaders in the country,”&nbsp;says Klodjana Ismajlaj, QTU Manager.&nbsp;“We greatly value the time that visitors and customers spend at QTU, which is why we strive to ensure that, through the center’s all-inclusive offering, they have the best possible experience,”&nbsp;Ismajlaj continues.More than shopping, full experienceYear after year, QTU has brought a wide range of well-known fashion brands while also introducing new concepts, from fashion, gastronomy, and personal care to entertainment and spaces designed for every age group. The center has also created functional areas such as dedicated student corners, where they can study, work on projects, or simply relax in a modern environment.<img src="https://intranet.balfin.al/wp-content/uploads/2025/02/sach-scaled.jpg">Sach Pizza, the well-known Balkan chain, has joined QTU’s diverse flavors, offering a unique gastronomic experience in Albania.More than 50 people work daily to ensure that QTU’s spaces are ready to welcome thousands of visitors: safe, well-maintained, and comfortable. Additionally, services such as transport, free parking, car wash, Wi-Fi, ATMs, and currency exchange make everything easier and more convenient for customers.<img src="https://intranet.balfin.al/wp-content/uploads/2025/02/LOV3481-scaled.jpg">BO Bowling: The newest entertainment spot in the capitalQTU has reintroduced entertainment options that are both nostalgic and exciting. Under the new “BO Bowling” space, in addition to the classic bowling game, visitors can also play ping-pong, darts, sing karaoke, and participate in many other activities.Located on the 1st floor of the shopping center, BO Bowling is quickly becoming the go-to destination for young people, families, and everyone looking for something different in the capital.QTU always brings something newAs the first shopping center in Albania, QTU remains an authentic choice, a place deeply connected with joyful moments yet always inviting with new experiences to discover. A space where every visitor feels the comfort of home while constantly finding something new to explore.

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