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condos and villas real estate and construction

Problematic Mar Azul Bankrupt

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Former mall at Mar Azul

In November last year a local judge declared the bankruptcy of the very polemic project Mar Azul. This condo/retail/office project was constructed in the heart of town, just next to the cruise ship terminal.

The bankruptcy was hanging in the air for a while. The developers have had many issues throughout the years with financing and the department of public works. I guess it never really stood a chance. It was under-financed.

The building now is in hands of curators appointed by the courts. Biggest claims come from the tax office and banks. Most tenants have moved out or are going to move out.

By Gabriel

Informing travelers about Aruba since 2007, trying to provide value to Aruba travelers.

2 replies on “Problematic Mar Azul Bankrupt”

I would liketo receive any information regarding Mar Azul, If it got sold, who bought it, if anyone invested and bought a condo what will happen to these purchasers deposit. Any information regarding this matter would be great.

Thank you

The last I heard about this project is that it’s still in the hands of a court appointed official to oversee the bankruptcy proceedings. The status is pretty much the same and things don’t seem to have been resolved as of today.

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