RCD Real Estate: Considerable Damages, But Billions to Gain - Tunisia Live RCD Real Estate: Considerable Damages, But Billions to Gain - Tunisia Live
RCD Real Estate: Considerable Damages, But Billions to Gain

News

RCD Real Estate: Considerable Damages, But Billions to Gain

Who is going to make a fortune of the treasure that the former ruling party left?

The RCD, the former ruling party in Tunisia may no longer be in power, however, it has left behind an abundance of buildings and properties.  Unfortunately, no one has a clear idea about what is to become of these assets. Investigators at the Ministry of Public Estate are currently  accounting for all the assets of the dissolved RCD party, which include luxurious buildings spread all over Tunisia and numerous cars, as well.  The headquarters of the former regime is valued at 4 million Dinars, so the investigation is no small matter.

The assets investigation has created a bigger issue, however.  In many cases, the RCD stole land or buildings from their owners. At the time, owners were unable to claim their rights, but now that the situation has changed, they are seeking to reclaim their properties.

On the other hand, many of these buildings were damaged during the January 14th revolution, and repairs would cost hundreds of thousands of dinars.  Moreover, several buildings were illegally claimed by local associations, as well as by the Committee of the Protection of the Revolution.

Many organizations — among them the African Development Bank (AFDB) and other public and private institutions –  have sought to get their hands on the headquarters of the RCD, located on Mohamed V street in downtown Tunis; however, it seems that the AFDB has the highest likelihood of acquiring this building worthy of New York City’s skyscrapers.

Source: La Presse

Shares