Deadline Extended for Payment for Ex-Communist Political School in Kumrovec

Total Croatia News

ZAGREB, November 14, 2019 – The government on Thursday extended a deadline for the payment of the necessary amount by the Zhongya Nekretnine company for the Kumrovec-based Hotel Zagorje until 31 December.

In mid-June, the government decided to sell the Kumrovec-based Hotel Zagorje, which used to be a political Communist school in the former Yugoslavia, to Zhongya Nekretnine company that has been the sole bidder, at the price of 14.09 million kuna (1.9 million euro).

Chinese businesswoman Yu Jiang is a co-owner of the Zhongya Nekretnine company and during her visit to the compounds in that northwestern Croatian region she said that according to an initial estimate, around EUR 20 million would be invested in the entire project.

The premises of state-owned Hotel Zagorje, which is in a dilapidated condition, covers 27,000 square metres.

The new owner was expected to pay the purchase price within 30 days upon the conclusion of the sales contract. Upon the company’s failure to do this within the initial deadlines, the government enabled the bidder to pay the necessary amount until the end of this year.

In the event that the bidder missed the new deadline, the advance payment of 598,000 kuna will be retained by the government.

More Kumrovec news can be found in the Lifestyle section.


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