Albania’s central bank plans to launch a tender for the reconstruction of the landmark Hotel Dajti in Tirana in the near future, with work to start this year, local media reported on July 13.

The Bank of Albania bought the hotel for €30mn in a controversial deal in 2010. The bank’s governor at the time, Ardian Fullani, was later charged with allegedly violating procedures in the purchase of the hotel. Prosecutors claimed Fullani was responsible for paying much more than its real value. However, Fullani, who was also charged with abuse of office in connection to a multi-million euro theft from bank reserves, was later cleared of all charges.

The bank has not specified what it plans to do with the hotel, but it previously indicated it might use the building as its new headquarters.

The reconstruction of the hotel is part of the central bank’s medium-term development plan for the period 2016-2018, according to which procedures for selecting a contractor and reconstruction work will start in 2016, business news provider Monitor said.

For local citizens, Hotel Dajti has long been one of the most prominent and most popular hotels in the Albanian capital.

The building was designed by Italian architect Gherardo Bosio and built during Albania's occupation by Italy in 1939-1943. After the war, the hotel briefly served as the headquarters of the Communist government, but was neglected after the fall of the Communist regime in 1990.

Official central bank sources claim that the restoration will be carried out in accordance with Bosio’s original ideas, but adapted to the current conditions.