! Murcia today – Lorca brings back bankrupt public building body after 10 years

Publication date: 09/28/2021

The construction company of the city of Murcia, which went bankrupt 9 years ago, will start building new houses again

The municipal council of Lorca has returned the ownership of the municipal housing construction company Suelo y Vivienda de Lorca (Suvilor) to public control, having been in liquidation since 2012. The public construction company went bankrupt there is almost a decade, but has now paid off all debts and can be made functional again.
Suvilor will build small real estate developments and focus on building new social housing, according to Lorca Mayor Diego José Mateos, while sales of new housing in the Murcia region have increased. However, board members stressed that the public nature of Suvilor will not hurt private companies, with Mateos saying he wanted this “to be useful, but not as competition for construction companies.” For this reason, it will mainly focus on the construction of subsidized housing in Lorca.

“Suvilor must be an agile and operational tool,” he continued, which can be used “to revitalize disadvantaged areas” such as the old town of Lorca.

In 2012, Suvilor filed for bankruptcy due to the overuse and construction of large real estate projects that fell short of demand during the construction crisis. Lorca’s board now wants the process of reactivating the company to be completed by the last quarter of this year, so that it can be fully operational by early 2022.

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