Federal Housing Construction Support Fund to choose investor for housing construction in Nizhny Novgorod
2010-06-21
The Federal Housing Construction Support Fund is planning to identify the housing construction investors for two sites in Nizhniy Novgorod on 25 June, 2010. The sites are located in the Prioksky District of the city and take up 20,000 m2 and 77,900 m2 respectively. The average rent is RUB 626.7 (€16.31) per m2 per annum, The lease runs for 3 years and 3 months. The initial rent is RUB 7.7m (€200,416). The first year’s rent is calculated to be RUB 30.7m (€799,063), and for the second and subsequent years it will be RUB 75.2m (€1.96m). After the rental period the land can be redeemed for RUB 18.4m (€478,917). Both sites will probably be used for the construction of a new, 100,000 m2, housing complex.
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