Hotel Zarea privatization deadline extended to October

The Public Property Agency (APP) has extended the privatization competition for Hotel Zarea in Chisinau and three other state enterprises until October 20. The original deadline for submitting applications was August 19.

This extension follows a request from Prime Minister Vasile Tofan, who suggested that the summer holiday season might limit investor participation. By moving the deadline, officials aim to ensure a more transparent and competitive process, potentially securing a better price for the state assets.

As of August 14, while 13 potential investors had expressed interest in the four enterprises, no formal applications had been submitted. The starting price for Hotel Zarea is set at 106,000,000 lei. The hotel is considered a strategic asset due to its central location in the capital.