Nasser Fares's R$ 72 million mansion to be auctioned

The luxury mansion of Nasser Fares, owner of the Marabraz retail chain, is scheduled for a judicial auction in October. Located in the Alphaville region of Santana de Parnaíba, Greater São Paulo, the property is valued at approximately R$ 72.83 million.

The auction will be conducted virtually via the Bayit portal. If no bids meet the initial valuation during the first round, a second round will open on October 9, allowing the property to be sold for a minimum of R$ 50.98 million, representing a 30% discount.

The seizure of the property stems from an eviction lawsuit due to non-payment involving a debt of approximately R$ 2.4 million. Additionally, the property's records show seven orders of asset unavailability originating from various Federal and Labor Court processes.

This legal action occurs amid a broader financial crisis for Marabraz, which has sought judicial negotiation to address significant liabilities.