Kinnula delays property sale to Israeli company for closer review

Kinnula’s municipal executive board has delayed advancing a proposed sale of 14 properties in the Saarensalmi area to an Israeli company, Yle reports. The properties are intended for accommodation development.

The board discussed the matter on Thursday but did not submit the deed of sale to the municipal council. Municipal manager Marja Lehtonen said the board wanted to clarify the terms, including the conditions for cancelling the transaction.

The municipality will discuss the details with the council at a seminar next Tuesday. The executive board is expected to return to the sale on August 17, after which the matter will proceed to the municipal council.

Lehtonen said the delay did not mean the sale was losing momentum.

“The matter, an international property transaction, is new to us. The elected officials wanted to be careful and pay attention to the details of the deed of sale,” she said.

Kinnula is also continuing to examine the buyer’s background. The municipality requested a background report on the company from Israel on Friday. Lehtonen said nothing had emerged so far that required closer examination.

Plans call for a high-end resort

Kinnula plans to sell the 14 undeveloped properties to Dror Bonim Atid, a limited company. The company intends to build a year-round, high-end resort on the shore of Lake Kivijärvi in Saarensalmi.

According to chief executive Elon Ben Abu, the plans include 14 wooden accommodation units, lakeside saunas, a spa and a restaurant.

The municipality has tried to sell plots in Saarensalmi for a long time. The area was made ready for sale in 2009, but most of the plots remain unsold.