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Russian Railways' subsidiary puts on auction housing complex in Sochi for $22m

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Russian Railways' subsidiary puts on auction housing complex in Sochi for $22m

The RzhDstroy, a subsidiary of the Russian railways JSC, intends to sell a multi-apartment housing complex in the Adler region of Sochi, the Russian Olympic city, the statement published on Friday on the company's website says.

The housing complex consisting of three buildings with 705 apartments has been put on auction. A starting price of the lot at Dutch auction (a format implying price reduction until the buyer is found) amounts to 1,295 billion rubles.
The auction is a public one in terms of participation and ways of price bidding.
Bidding applications can be submitted until the 11th of February. The auction is scheduled to be held on the 14th of February.

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