Unable to pay off €61m in debt, the Liberty Center shopping mall will be auctioned off on Aug. 7. Located in Bucharest, the 70,592 sqm shopping center includes 101 shops and businesses.
If the mall does not find a buyer Aug. 7, the asking price will be slashed by 25 percent in a second auction. The mall is owned by the Ropotamo Impex and the Awdi family.
The shopping center opened in 2008 after a €70m investment from Alpha Bank, EFG Eurobank and Bank of Cyprus.
Liberty Center is the fourth mall in Romania to face the auction block. The other three malls include City Mall, Tiago Oradea and Armonia Braila.
