Costa del Sol news: Israeli Oil tycoon bids for Post Office building valued at €16.8 million in Málaga

ON SALE: The building will sell for a minimum of €16.8 million

AN ISRAELI oil tycoon is the sole bidder for the Post Office building in Málaga. The former headquarters of ‘Correos’ was put on the market by Hacienda at €16.8 million.

The unused building is being auctioned by the Ministry of Finance, that is looking to top-up funds and avoid the costs of maintenance. It is being sold along with what is known as the ‘Palacio de la Tinta’, a building of French influence that has received nine offers.

The derelict Post Office building only received one bid submitted by the company Nitsba Spain, based in Barcelona. The owner is Israeli tycoon Haim Tsuff, president of Isramco, a major oil and gas company.

If there are no setbacks, the businessman will be the new owner of the Post Office building after the auction that is scheduled for November 2.