$10K Bid For Spanish Airport That Cost $1 Billion
- 9 years ago
A Chinese investment group may have just purchased an abandoned airport in Spain for a little over $10,000.
A Chinese investment group may have just purchased an abandoned airport in Spain for a little over $10,000. That’s clearly a bargain for an airport—especially one that cost over $1 billion to build.
The Ciudad Real Central Airport—about 150 miles south of Madrid—is one of many “ghost airports” built during Spain’s construction boom prior to the financial crisis. The airport opened in 2010 but has since gone bankrupt and closed in 2012 amidst the ongoing economic troubles in the Eurozone.
The Tzaneen International group was the winning—and only—bidder at a receivership auction, but did not meet the minimum price of $30 million, so the sale could face complications going forward.
In fact, the local court in Ciudad Real has
A Chinese investment group may have just purchased an abandoned airport in Spain for a little over $10,000. That’s clearly a bargain for an airport—especially one that cost over $1 billion to build.
The Ciudad Real Central Airport—about 150 miles south of Madrid—is one of many “ghost airports” built during Spain’s construction boom prior to the financial crisis. The airport opened in 2010 but has since gone bankrupt and closed in 2012 amidst the ongoing economic troubles in the Eurozone.
The Tzaneen International group was the winning—and only—bidder at a receivership auction, but did not meet the minimum price of $30 million, so the sale could face complications going forward.
In fact, the local court in Ciudad Real has