September 21, 2018

Fourth Sale Attempt For City Mall Bucharest

On June 10, 2011, the City Mall Bucharest shopping center will be put up for sale for the fourth time. The auction will start at EUR23.58 million, almost 30% less than the initial price of EUR33 million. Initially, City Mall was put on sale on March 31, at EUR33 million, but, since there were no investors, the price was gradually decreased to EUR29.5 million and then EUR26.2 million. City Mall went bankrupt in November 2010, after owner Victoria Holding, a unit of Australia’s investment fund APN European Retail Trust, was unable to repay the loans taken for its construction.

Source of the news: Mediafax ()

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