Spanish ‘ghost airport’ that cost €1bn to build sold to chinese buyer for €10,000

Spanish ‘ghost airport’ that cost €1bn to build sold to chinese buyer for €10,000

The bid is a fraction of the building cost of the billion euro project

An abandoned airport in Spain has been auctioned off to a Chinese company for the measly sum of €10,000, or about 10,000 times less than it cost to construct the thing. The Chinese investor, Tzaneen Inernational, was the only bidder for the Ciudad Real Airport, which had gone bankrupt and closed down in 2012 after operating for only four years.

According to The Independent:

The bid has not been topped by any other investors, meaning that if no other bids are placed by September, the site will be theirs for the bargain price.

The airport was originally put up for auction with a €100m price tag last year. However, after it failed to attract any interest, it was reduced to €80m and subsequently €40m. Again, no buyers came forward.

The Chinese consortium told Europa Press that they would plan to make the airport a point of entry for cargo coming into Europe from international markets, especially from China.

The Ciudad Real Airport is one of many ambitious building projects left abandoned in Spain in the wake of recent financial turmoil. Located just an hour away from the Madrid Airport by car, this particular development seemed almost destined for failure.

Initially, it was promised that the airport could supply more than 6,000 jobs. Despite its ability to accommodate 10 million passengers a year and a runway large enough to fit the world’s biggest passenger airplane, the Airbus A380, the airport was only opened to take international flights for two years.

The project had initially been called the Don Quixote airport, named for the Spanish literary character who is well known for his delusions of grandeur.

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