PROPERTY

Tender for property buy-and-leaseback entity

Tender for property buy-and-leaseback entity

The process for the creation of the state’s Property Buy and Leaseback Entity is in its final stage.

The Finance Ministry will start the procedure next week for selecting the investor to run the entity, calling an international tender.

The entity will acquire the main residence of vulnerable households unable to meet their obligations to banks or funds, in order to help them avoid losing their home. The platform will open in late May for applications by households, confirming their eligibility for the program.

An estimated 5,000 households fulfill the criteria, as the majority of vulnerable debtors have already reached settlements.