The auction will be organized on February 15 by the compound’s liquidator, RVA Insolvency.
Copper Beech Capital, the developer of Blue Tower Residence, went bankrupt two years ago after the Bucharest Court had rejected its reorganization plan.
Blue Tower Residence stretches onto 5,479 square meters and includes 156 apartments and 48 parking spaces.
The Blue Tower project was due for completion in September 2009 and the EUR30 million investment was covered from own sources and through a EUR14 million loan contracted from Alpha Bank.
In 2008, Copper Beech Group said it plans to invest EUR2.5 billion, during a five-year period, in building 17,000 homes in Bucharest and neighboring areas. The group had already bought 600 hectares of land to develop its planned real estate projects.