A growing number of Israeli real estate developers are pursuing investment opportunities in Albania.

According to the Jerusalem Post, the eastern European country is on the way to becoming a "mecca" for foreign property companies.

This, it said, is partly because it is trying to catch up with its neighbours in the region and is experiencing significant growth as a result.

Koby Dayan, general manager of Adal Holdings, is one person who is extremely positive about the country's economic future.

Speaking to the newspaper, he commented: "The attractions of Albania for Israeli investors are because it is so underdeveloped and also because it is relatively near."

The publication added that Albania's efforts to catch up with other eastern European countries depend on a large influx of foreign capital.

This comes after the Global Property Guide revealed that the country is becoming increasingly popular with second home buyers from overseas.

The publication said a period of "catch-up" has started to take place now that it is enjoying greater political stability.

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