In Montenegro, the town sold for 1 euro

28.10.2010 18:10
The head of Mirax Group Sergei Polonsky can sell your project Astra Montenegro on the Adriatic coast for 1 euro. Astra Montenegro is located at Cape Zavala, between the towns of Budva and Becici.

The project envisages construction of residential complex of 36 villas with apartments and high-rise towers Astra with condo-hotel of 520 apartments and a hotel with 140 rooms.

A project worth $ 1.5 billion, was launched in 2007, but construction was interrupted by the crisis. At the time of the stoppage had been partially built 36 villas. Second stage of construction has not started this part of the project is at issue, "said a source in the Mirax Group.

The uncertainties of the Astra Montenegro project forced the government of Montenegro to nominate Sergei Polonsky ultimatum. Russian consultant familiar with the project, says that local authorities have promised to demolish the facilities already built, if the developer would not resume construction of the second part of the complex.

In these circumstances, to help Polonsky ready to his customers. The top manager of a development company that implements a Montenegrin similar to Astra Montenegro project, said that buyers of apartments Mirax ready yourself finish the first set. A source in the Mirax Group said that a group of 96 investors. According to local press, customers Polonsky willing to buy him a draft for 1 euro and allegedly obtained the consent of the developer.

Interest holders have created a company with headquarters in Budva, and enlisted the support of the Montenegrin authorities and creditors Sergei Polonsky - Russia`s Alfa-Bank and the Austrian Hypo Alpa Adria Bank.

"We Mirax Group has an agreement with buyers on their participation in the project as co-investors," - confirmed to the press service of the corporation. They have signed a framework agreement, but the final terms of cooperation "are in the stage of development." Announce the results of the negotiations the developer promises for a month.

On withdrawal from the project in Mirax Group is not officially say. Nevertheless, Astra Montenegro was not represented on the map of international projects in the October presentation of the Corporation for bondholders.

On materials: homesoverseas
Content tags: Overseas property
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