Cameroon: Saint John Plazza, famous Douala theatre, to be auctioned on 17 September

(Agence Ecofin) - The property development housing the Saint John Plazza, one of the most well know theatres in the economic capital of Cameroon, will be auctioned on 17 September 2015 in Douala, in the offices of the District Court of Wouri, announced a communiqué on the sale of foreclosed properties from the law firm Michel Vouckeng.

This sale will be executed under the warrant of Union Bank of Cameroon (UBC), as part of a debt unpaid by the owner of this property, Grégoire Piwélé. The debt dates back to 2003, according to the notice of sale.

The bidding price for this property complex is set at FCfa 800 million. The public bidding will be presented before the bar by a bidder or his legal representative, by increments of FCfa 2 million, clarified Mr. Vouckeng.