BUSINESS

Mamaia Hotel Complex sold for EUR 2.5 M

A man from Bucharest, Silviu Iordache, bought in an auction, for EUR 2.48 M, the “Mamaia” five-star hotel complex owned by the Ministry of Regional Development and Tourism (MDRT) in the seaside resort of the same name, Mediafax reports. The complex was sold in an open auction and the price of EUR 2.48 M represented the only bid made. “The sum is to be paid in full within 10 days since the signing of the sale and purchase agreement. The participation guarantee, which is converted into advance on the contract, amounted to EUR 400,000. The sale and purchase agreement will include a proviso which places the buyer under obligation to maintain the complex in the tourist circuit,” a release by MDRT informs. The “Mamaia” Hotel Complex was put on auction five times before, but failed to draw a buyer.

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