The Housing Mortgage Finance Agency (AIZhK) of Russia holds an auction selling plots of land with a total area of 68,67 hectares, which are in federal ownership of Sochi city, the statement released by the Agency says.
The plots of land located in the Khostinsky region of Sochi and owned by AIZhK might be used for construction both of a multi-storeys residential buildings and detached houses. Initial price totals 168 400 000 rubles ($2,6 million) for the lot of 34,13 hectares and 255 500 000 ($3,9 million) for the lot of 34,54 hectares. Bidding applications can be submitted until the 19th of December.
The Khostinsky region is a part of a Big Sochi between its center and Adler. It includes villages in a coastal area, spa suburbs of Sochi, where a few of regional tourist facilities have been preserved, as well as unique natural landscapes.