This municipal decision will allow the entity to opt for the subrogation of the concession for the construction and operation of the underground parking, the commercial area, and the public square located in the historic center of the town. The council thus waives its right of first refusal, estimating the cost of assuming this management for the municipal coffers at over three million euros.
The facilities, built in 2003 through an agreement between Gestión de Aparcamientos 2002, S.L. and the City Council with a 50-year concession, faced problems when the original company declared bankruptcy. The mortgage debt was subrogated to Promontoria Holding 236 B.V. in 2019, an entity that in February of this year informed the Consistory of its lack of intention to continue as the concessionaire.
In light of this situation, in May 2026, Rajesh Karamchandani Bhagcandani requested the City Council that his new company, Parking Teror, S.L., take over the operation. After submitting the required documentation and technical evaluation, it has been verified that the company meets the necessary requirements to subrogate the concession.
Should Parking Teror, S.L. win the auction, it will assume the exploitation rights and the outstanding mortgage debt of Gestión de Aparcamientos 2002, S.L. for the next 27 years.
The local government has emphasized that a technical report on the infrastructure's condition exists, meaning any future defects or breakdowns will be the responsibility of the new concessionaire. Furthermore, limitations have been established, such as the prohibition of selling shares without municipal authorization and the requirement for approval for significant financial operations.
It is also stipulated that the new concessionaire must remain in existence for the entire duration of the concession to prevent a recurrence of the previous situation. The annual submission of audits (financial, operational, or quality) to the City Council is another essential requirement.
