Société de Promotion des Logements Sociaux (Sprols) Announces Auction of Unfinished Building in Tunis

The Société de Promotion des Logements Sociaux (Sprols) has announced a sealed-bid auction for an unfinished building located in the Urban North Center of Tunis. The administrative building, intended for office use, consists of three blocks with a basement, ground floor, and 3 to 5 floors. Construction began in 2020, with 70% of the work completed.

Property Details

• Land area: 4,268 m²
• Covered area: 8,310 m²
• Coefficient of land occupation (COS): 0.5
• Coefficient of land use (CUF): 1.5
• Maximum height: R+5 (Lot A18) for offices and commercial spaces, and R+4 for the other three lots (A19, A20, and A21) for office use only.

Auction Conditions

• Initial price: 35 million Tunisian dinars (Mtnd)
• Interested parties must meet all legal conditions and can obtain the specifications booklet free of charge from the Sprols market service.
• Visits to the building can be arranged from 9:00 a.m. to 4:00 p.m. in coordination with the Works Directorate.
• A bank guarantee of 0.500 Mtnd is required, which will be refunded to non-selected participants.

Key Dates

• Deadline for submitting bids: May 30, 2024
• Public opening of bids: May 31, 2024, at 10:00 a.m. at the Sprols headquarters.

Sprols' Financial Situation

• Provisional figures for 2022 show:
  • Operating revenue: 14,100 Mtnd
  • Operating result: -3,100 Mtnd
  • Net loss: -2,700 Mtnd
  • Cumulative losses: -15,400 Mtnd
• The company has positive equity of 21,800 Mtnd, debts of 37,900 Mtnd, and commitments to suppliers of 11,200 Mtnd.

The sale of this building aims to alleviate the company's balance sheet, absorb previous losses, and provide sufficient liquidity to self-finance the relaunch of its activities. This is a promising initiative that could serve as a model for revitalizing other public enterprises of similar size.