Some 112 assets of bankrupt Malaga developers Aifos have been put up for public auction by the site Escrapalia. The total assets, valued at 16.7 million euros, are going up for auction for a total starting price of 11.8 million euros, 70% of their market value. The auction has been organised in 112 lots and includes 94 houses, 14 parking spaces, and three plots of land, located in Casares, Benahavís and Rincón de la Victoria in Malaga province, and Roquetas de Mar, Almeria, and Atafe, in Granada.
In Malaga province, the offer includes 71 assets - on auction for a total of 7.3 million euros. The lot includes 12 homes in Benahavís, in the Altos de la Alquería residential development. With an average area of 104 square metres, its starting price is 860,000 euros, with a market value of 1.2 million euros. The average sale price per house stands at 71,700 with an average market value of 102,000 euros.
An urban plot, located in Casares, in the Doña Julia residential development, measuring 12,000 square metres, is going up for auction for 1.7 million euros. It is valued at 2.5 million euros.
In Rincón de la Victoria, 57 houses are up for sale. Fifty of them are located in the El Parador de Añoreta residential development and seven in the Terrazas de la Cala residential development.
The auction will remain open on Escrapalia until January 25. After free registration on the platform, any person, company or investor can participate. As a commitment of real interest, a guarantee deposit must be made, which is indicated for each lot.
The promoter Aifos went into liquidation in October 2014. The court case began last June, 13 years after the company was declared bankrupt in 2009. This is the largest business bankruptcy in Malaga, and a one of the largest in the country in the real estate sector.