1,500 m2 plot for urban construction is up for auction for 1 euro

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The property is located in the municipality of Figueiró dos Vinhos and is up for auction as part of the liquidation of Empobor, which went bankrupt in 2017.

Empobor – Empresa Portuguesa de Borrachas went bankrupt in early 2017 with debts of 7 million euros. It was eventually declared insolvent because it was unable to comply with the special revitalization process. Now, the process of liquidating this company is underway, which involves auctioning off a plot of land for urban construction measuring almost 1,500 square meters (m2) for the minimum price of one euro. This plot is located in the municipality of Figueiró dos Vinhos and has an asset value of around 57 thousand euros.

The liquidation of what was once considered one of the largest companies in the Leiria district is underway. Now up for online auction is a plot of land measuring around 1,500 m2 located next to Rua Padre António Inglês, in Vale de Figueiró, in the municipality of Figueiró dos Vinhos. The base auction price for this plot of land for urban construction is 1.18 euros, so it can be bought for as little as one euro, writes Jornal de Negócios.

This is a small part of a much larger plot. For sale at auction is an area corresponding to 3/16ths of a plot of land with a total area of 7,944 m2. The lot being auctioned has an asset value of around 57,000 euros, which corresponds to 3/16ths of the total value of the land, which is around 305,600 euros, according to the online auction page. At the end of April 10, the last bid to buy this land was around 1,500 euros.

The sale of this land is a step towards liquidating the assets of the former rubber factory, which is expected to accumulate a total of 1.714 million euros. But this figure is far lower than the total debts, which amount to almost 7 million euros, according to the same newspaper. Empobor went bankrupt owing debts to 138 creditors, including Besleasing e Factoring, Novo Banco, Montepio, Social Security, Caixa Geral de Depósitos and the tax authorities.

Iris Lavan
Iris Lavan
With a background as a consultant in the medical industry, Iris Lavan brings a wealth of knowledge and expertise to Portugal Pulse. Iris also runs a company in Tel Aviv offering marketing, business development, content creation and public relations services. She holds a degree in economics and management, giving her a solid grounding in business strategy and financial planning. Iris' commitment to Portugal Pulse is reflected not only in her consulting career, but also in her impact on the Portugale media landscape in Israel. She was an interviewer for Hadshot Portugal חדשות פורטוגל, a media outlet that broadcasts news about Portugal in Hebrew, where she provided valuable information on current affairs, healthcare and the economy. Since July 2023, Iris has also been part of the Portugal Pulse team.

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