The Sarajevo Times website revealed that Kuwaiti investors are interested in buying several real estate and land in Bosnia and Herzegovina, ranging from lands belonging to a “bankrupt” iron factory, to hotels in the center of cities and others in the heart of nature.
The website said in a report that Kuwaiti investors are looking to buy a property in Zenica, north of Sarajevo, Bosnia, where the Zelgizara Zenica Iron Factory is located, which was closed for a long time due to bankruptcy, and its workers are still waiting to complete the sale of its properties to pay their salaries and overdue compensation, reports a local Arabic daily.
The website added that the problems of the workers, who number more than 280 people, have not yet been resolved, and files of some of them have been sent to the employment departments in the country to search for jobs for them.
The website added that each worker laid off from the factory needs compensation from the closed iron factory, ranging between 40,000 Bosnian marks ($20,400) and 45,000 marks ($23,000).
For one worker, 40 to 45 thousand BAM is needed. The representative of the Zeljezara Zenica Workers’ Union, Avdija Halilovic, says that the sale of bankruptcy assets is slow, that buyers expect to get something for nothing, but that this will not happen.
”People expect to get something below cost, but nothing is for free. We had an appraiser who evaluated the property and that is the price. If someone wants to buy, they will buy,” Halilovic said.
He explained that the sale of smaller parts up to about one million BAM is better and that these funds are used for health care when applying for public invitations from the Federal Pension and Disability Insurance Institute. Part of the directorate building has been sold and a private clinic is being built on that site, while foreigners are also interested in larger properties.
”We are always in contact with the bankruptcy trustee. We have meetings and we have had inquiries from Kuwait about the Hotel Internacional and the Bistricak complex, and we are waiting for a response from them. As we know, they are quite interested in these properties,” Halilovic explained.
Moreover, he added that the price of 9 million BAM is realistic considering that it is a hotel with underground garages, in the city center and near the stadium, which is always full during football matches.
In the end, he said that three or four people work in the wrought iron plants and that with a more serious approach by the Federation of Bosnia and Herzegovina (FBiH) Government, which is their owner, up to 150 workers could work there.
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