Deva Mall shopping center located in Deva, Hunedoara County, put up for sale more than five years ago, was sold in an auction for RON 13.3 mln (EUR 2.7 mln) to Farales, a company from Oradea, Ziarul Financiar reported.

The auction took place on December 15, and the starting price was about RON 11.1 mln.

Two prospective buyers placed bids. Farales is wholly owned by local entrepreneur Papp Ferenc Jozsef and reported a turnover of just over RON 1 mln in 2020. The company is active in the field of aquaculture.

Dor Pluricomprest, the company that previously owned Deva Mall in Hunedoara County, put up for sale several years ago, went bankrupt after the project failed to find a new owner in several rounds of auctions.

"Deva Mall was not sold. An attempt was made to capitalize on the shopping complex within the judicial reorganization procedure of the owner Dor Pluricomprest, a procedure that lasted from April 2016 to October 2020. The starting price of the tenders was RON 21.2 mln without VAT," said Roxana Derscaru, insolvency expert, in February 2021.

(Photo: Yukniphotoshot/ Dreamstime)

andrei@romania-insider.com