24 January, 2017

Moldova Agroindbank bought Codru hotel from Plahotniuc

Moldova Agroindbank bought Codru hotel from Plahotniuc
FOTO: businessclass.md
"Codru" hotel from the capital - which is known that it would belong to the First Deputy President of the Democratic Party, Vlad Plahotniuc - was bought by Moldova Agroindbank. According to a press release posted on the institution website, "The Bank Council has decided to relocate the headquarters of MAIB in the building where now is located the hotel complex "Codru".

Moldova Agroindbank has reached a high level of development, investing in quality, innovation and modern infrastructure  these 25 years. In order to continue to maintain the position of the leader of the national banking system and to increase the performance, it needs a new building for Central Office, the current headquarters using its full capacity, it is mentioned in the press release.

Recently, the Bank held a public auction concerning the purchase of a building for relocation of the headquarters, with demanding to fulfill the needs and visions of a future head office of MAIB. As a result of the examination of multiple offers, at the proposal of the Management Board, the Bank Council decided in favor of the hotel complex "Codru", location of which corresponds the most to the technical requirements set - pathways to the main thoroughfares in the city, court and related land surface for parking, rooms for training center activities of the bank etc.

"The Bank is looking for several years for a new headquarters of the Central office because the current building is not spacious for the existing number of sub-units. This situation creates inconveniences, consumes more resources, time and decreases the effectiveness of collaboration between Central Bank departments, which is 60% of the staff, who is now located in several locations in different sectors of the city, increasing the efforts and the expenses of related logistics. At the same time, currently, MAIB is implementing a large project transformation of the bank, which means the reorganization of the business model by focusing staff on the branch network and agencies staff on the quality and timeliness of customer service, proactive sales. It involves the centralization of the operational control and technical processing of operations and transactions of subsidiaries office in a modern Back Office. Of course this project also means a shift in the number of staff in the Central Office, the expansion of departments and creation of new ones. Thus, a new building will ensure the highest present and future needs of our industry.", commented the decision the MAIB Board Chairman, Serghei Cebotari.

The Bank initiated the development of the specifications for the reconstruction project of the building complex based on the latest design trends and technologies in the field, so the future headquarters of MAIB to become a building of reference in the capital architectural terms. Until the start of reconstruction work in the next 3-5 months maximum, the hotel complex "Codru" will continue to operate under the current type of activity.

The Codru hotel, with a total area of 12,600 square meters, was state property until December 2008 when the company was privatized by the Daranian Holdings Limited from Cyprus, which paid 50.3 million lei, a price considered as a derisory one. A report by the Court of Accounts determined that from this transaction, the state was to collect at least 212 million lei, i.e. four times more. The press wrote that behind the transaction would sit the former first deputy PD, Vlad Plahotniuc. Shortly after the privatization of real estate, the Daranian Holding transferred the hotel to another offshore - the Investment Development Group.

In September 2010, the Investment Development Group was selling that shareholding, so the Codru hotel becomes the property of Finpar Victoria Limited, one of two associates of Finpar Invest SRL.

Already in May 2012, according to a statement from the State Register of the Legal Persons, the only member of Finpar Invest SRL was OTIV Prime Real Estate B.V. from Netherlands. Also, on several occasions,  in media appeared the information that OTIV Holding belongs to Vlad Plahotniuc, and the name comes from the initials of the names of his family members: Oxana, Timofei, Inochentie and Vladimir.

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