Thursday, March 13, 2008

Property sell-off by Russian army

The Russian army is set to raise money by auctioning off some of the property it owns, according to reports in the Russian press.

Newspapers in Moscow say the auction will include mansions, unoccupied land, and even whole towns.

The purpose of the sell-off is to raise money to build much-needed modern housing for army officers.

No fewer than 122,400 military families are said to be waiting for self-contained accommodation.

Some have been on waiting lists for years.

Russian Properties News