47-storey skyscraper InTempo in Benidorm is almost completed, with 40% of the apartments sold, but the developer continues to experience financial difficulties. Company Olga Urbana expects to find an investor and sell the building without tenants (they are agree to get compensation) or negotiate with the bank for funds to complete the construction, according to ee24.com citing noticia.ru.
World media wrote a lot about 200-meter tall Edificio InTempo Benidorm. It was claimed that designers had forgot to construct elevators. Some newspapers have called InTempo the tallest residential building in Europe. But it turns out out that there are no problems with elevators, and that the tower is by 100 meters shorter than the tallest residential skyscraper on the continent which is in Moscow.
Olga Urbana hopes to effect negotiations with investors from the United States and France, who've expressed interest in purchasing the building. In this case we are talking about buying of the empty skyscraper: residents will have to move out and get compensation (120 of 269 apartments were bought). The developer spent €120 million on the construction, but now company is ready to get rid of the property for €90 million.
The second scenario is providing a business plan and getting money from the "bad bank" Sareb for finishing works and landscaping. In this case, the developer will be able to save the asset, but will increase its debt to the bank.