Insolvent Portuguese shopping centres up for sale |
|
Portugal Resident has reported that three insolvent shopping centres in Portugal have been put up for sale, with a total asking price of €15 million. The decision has arisen following pressure from the Spanish bank Abanca, which is the largest creditor of the ailing sites’ owners and filed the original petition for the insolvency of the shopping centres. It is understood that Abanca hopes to use their sale to recoup some of the €50 million it has invested in the sites, and has agreed to a lower sale price than they are currently worth to facilitate this process. Dolce Vita Ovar is estimated to be worth €15 million on its own, but has an asking price of only €8.3 million. Similarly, Dolce Vita Miraflores is being put on the market for €5.4 million, and Dolce Vita Central Park’s price is set at €1.4 million. |
