Open auction on selling land to be held in Moscow

The first open auction on selling plots of land in the Moscow region will take place in Moscow today. Last time such auctions were conducted was in 1917. The organizer of the auction is the Property Fund of the Moscow region. Participants will bid for about 100 hectares of land in the Klin district.

The auction is aimed at forming fair prices of plots of land, attracting investors and creating a precedent of selling land without bureaucratic hindrances. If an investor purchases a plot of land at this auction they will receive ownership documents immediately.