Tue. Feb 27th, 2024

The liquidation of the developer Evergrande forces the sale of the Châ teau Montebello

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Château Montebello, in Outaouais (Archive photo)

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The famous Château Montebello, in Outaouais, will be sold after the liquidation of its owner, the Chinese real estate group Evergrande, struggling with significant financial problems.

Me I see that with an optimistic eye, says the mayor of Montebello, Nicole Laflamme.

What this will allow is possibly to see a new buyer arrive here and we will hope that it will be a buyer who will be invested in the preservation of this historic monument.

Château Montebello has been owned since 2014 by Evergrande, the same group that was ordered to liquidate its assets from a Hong Kong court in late January.

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The mayor of Montebello, Nicole Laflamme.

Evergrande, which has US$240 billion in assets, defaulted on its debt in 2021, sending tremors across China's property market, which has since fallen into a deep crisis .

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In June 2023, the real estate developer estimated its debts at $328 billion .

Ms. Laflamme does not know who will be the next buyer of the internationally renowned property and attaches little importance to its origins. She simply hopes that it will be a developer who will have at heart the value and historical appearance of the Château.

This is an important attachment for the municipality. For us, this castle is part of our community.

A quote from Nicole Laflamme, mayor of Montebello

I hope that this or a buyer who will keep this heritage because it will always require repairs and significant maintenance, she emphasizes.

The mayor of Montebello recalls that the Castle, the emblem of Montebello, attracts many visitors to the region every year.

She describes the establishment as an economic engine, especially given that the economic benefits of the Château keep the village alive, she says.

It is one of the largest employers in the region. There are more than 300 employees who work there, continues Ms. Laflamme. I have faith that something will happen one way or another to keep Château Montebello what it is.

Responsible for the management of Château Montebello, Fairmont Le Château Montebello responded to Radio-Canada that he is not able to grant an interview on the subject.

With information from Audrey Neveu

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