Mall in Oradea, in its second bankruptcy, sold for EUR 8 mln

Newsroom 06/09/2018 | 06:37

Oradea Shopping City, the second biggest mall in the city, built in 2010, going through a second bankruptcy, was just purchased  by the shareholders of Lotus Center Mall in Oradea, the biggest one in the city.

The project was sold by Expert Insolvency SPRL liquidator which took over the building after the company Shopping City Oradea (former Shopping Center Holding) went bankrupt.

The first sale of the mall (named back then Tiago Mall) took place in 2010 when the Irish developer Mivan sold it for EUR 30.5 million to Shopping Center Holding, owned by Cyprus off shores with Puiu Popoviciu behind them.

In 2016, Shopping Center Holding put the mall again on sale for EUR 15 million, but obtain only EUR 8 million in august 2018. The purchase of Oradea Shopping City was made by Sapient Center, owned by Lotus Center (70% of shares).

The building will be upgraded, refurbished and will have commercial functions, announced the the new owner. An opening of the center is expected in the second half of next year.

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