Liberty Center shopping mall, located in the Rahova district of Bucharest, has been sold in a public auction, after it was foreclosed on in July. The Medifax press agency reports that the selling price was the opening €60m.
The buyer is the company Rosequeens Properties, owned by Rosequeens Properties Limited, registered in Cyprus. The mall, owned by Irish company Mivan and by the Awdi family, went on sale to cover debts of €61m owed to three banks: EFG Eurobank, Alpha Bank and Bank of Cyprus.
The project has a usable area of 70,592 sqm. Liberty Center, a €70m investment, was inaugurated in November 2008, with an occupancy rate of 100 percent, but lost tenants such as Starbucks, Diverta, Marks&Spencer, Forever 18 and Burger King.
