Sale of property of company "Genex" in Croatia still under question mark, building value of facilities estimated to 15m EUR

In some twenty days the public will know whether Belgrade-based foreign-trade company "Genex" managed to find buyers for exceptionally valuable property in Croatia it offered for sale.

The Privatization Agency of Serbia has given agreement that this company, for the sake of payment of severance pays, can sell the hotel complex "Škaraba" with 1,115 square meters of lodging space and 17 ha of land in Rovinju at the very coast of the sea, business building of 393 square meters in the vicinity of Opatija, office space of 747 square meters in Rijeka, hotel complex villa "Rašica" on 2,951 square meters near Dubrovnik, with the related land of 92 ares, office space of 115 square meters in Split, business building of 1,085 square meters in Zagreb, office space of 98 square meters in Zagreb and office space of 115 square meters in Osijek.

This property has been offered for sale on two occasions, but there were no interested buyers.

(Offices and hostels presented to buyers: Škaraba)

Since 1991, this property has been managed by Croatian companies. Although, by the annex G from the Agreement on Succession, Croatia was obliged to return the property to the owners, that did not happen. Therefore, "Genex" offers these attractive facilities for sale as seen and with the present legal status, which means that the buyer is not guaranteed the introduction to the property.

(Waiting for a buyer: Villa "Rašica")

According to the data provided by the company, the building value of the property amounts to about 15m EUR and "Genex" can sell it if it gets the price even few dinars higher than the bookkeeping value that is kept secret.