Chinese investors buy Murcia commercial centre

CHINESE investors have reportedly brought the Condado de Alhama commercial centre in Murcia, according to the centre’s property administrators. The Al Kasar commercial centre was built by Polaris World in Alhama de Murcia and was previously owned by IRM.
The sale has included all but one unit, which was given by the developers to the town hall and is now used as a council office for local residents.
All units within the commercial centre are rented out so it is not yet known whether the tenants will be affected by the change of ownership.
A number of other Polaris World assets are reportedly up for sale including the five-star hotel. In 2010 Polaris World narrowly avoided going out of business when debts of around €100 million were renegotiated with the banks. IRM, which managed the assets acquired by the banks, has also avoided bankruptcy.