The major flop of 7-star tourism in Laconi: money never paid for the Laore ruins.

These are dilapidated buildings in the hamlets of Laconi: Su Lau, Crastu, and Santa Sofia. They were supposed to be transformed into ultra-luxury villas for 7-star tourism, complete with spas and all the comforts. At least, that's what the representatives of Premier Event Srl, which in March 2023 won all the lots at the regional auction for the sale of fifteen former Laore properties in the Sarcidano area, had declared their intention. Three years later, the flop was certified: no investment, and the company—despite repeated requests from the regional government—did not close the sale. And the award was revoked: those properties will go to those who made the purchase offers, which were defeated by the Srl based on Via de Magistris in Cagliari, registered to a Russian citizen with ties to a Cagliari resident. Provided, of course, that those excluded, all locals, still have the will to make the investment.

The procedure

The competition had been crushed by steep price hikes for (almost) shacks abandoned for years. The LLC is owned by a Russian woman, and the share capital is 10,000 euros. However, there was a significant amount of money to invest: the purchase alone is worth 600,000 euros.

The auction was announced on January 20, 2023. Purchase proposals, with sealed bids, were expected by February 24 for "15 lots of real estate located in the Municipality of Laconi." A few examples to illustrate: the first building is a former farmhouse built in 1958, no longer used by Laore, in the hamlet of Crastu, about 7 kilometers from the town center. It is declared uninhabitable. The starting price was €20,000. There are also farmhouses in other lots, such as lot 14: this time in Santa Sofia, 9 kilometers from the town, in a "severely dilapidated condition." The price to bid on: €16,000.

Eat it all

The listing didn't spark a rush to buy. For some buildings, there was more than one offer. But Premier Event won them all. The strong bids made the difference. For the first lot, it had put €40,000 on the table, double the price estimated by the Region. For the 14th, the offer was €32,501. Again, this was double the offer and €11,000 higher than that submitted by another prospective buyer. The same action plan was followed for all the properties. Thus, two weeks later, the director of the State Property Department, Sabina Bullitta, signed the papers confirming the sweepstakes in favor of a single buyer. The total investment, for the acquisition of the assets alone, was €573,515.

The company

All Premieri Event shares, worth a total of €10,000, were held by Irina Ryabchukova, born in Moscow and resident in Iglesias. The headquarters are in an elegant building on Via De Magistris, Cagliari. There is also an operational office at Via Roma 70, also in the capital. She had been listed as director since 2017. The company was listed as engaged in the construction of residential and non-residential buildings: in 2022, the LLC had only one employee. In the meantime, it has expanded its interests: it has also moved into renewables, with land it owns ready to accommodate wind and photovoltaic power in Iglesias. Procedures are ongoing.

For Laconi, it seemed like a dream: fresh money flowing in and top-notch tourism. Ryabchukova had met with Mayor Salvatore Argiolas. The project seemed ultra-luxurious, with a declared intention to invest a lot more money as well.

And then nothing

And then? Then nothing. The director general of the regional state property service himself signed the revocation of the award of the properties in March. In recent months, the Department of Local Authorities, when asked for updates on the status of the procedure, had stated that "some land registry adjustments have extended the process, but the process is moving forward." They even stated that "the deed of transfer of ownership" was "being finalized." However, it was never finalized. The state property agency repeatedly urged the company to appoint a notary of its choice to close the deal. Despite the granting of extensions to the deadlines set by Via De Magistris, they remained silent: no money, no seven-star award for Laconi, no "Russian dream." Mayor Argiolas is not surprised: already in 2023, he had dampened enthusiasm, claiming he was waiting for concrete projects. Since then, no one has come forward. He was right.