The State Property Service an auction for the sale of 31 properties on the balance sheet of the non-bank credit organization “Aqrarkredit”.
The agency does not report how the 31 real estate objects put up for sale fell into the hands of a state credit institution. However, it is well known that in 2015-2017 toxic assets of the International Bank of Azerbaijan were transferred to the balance of this organization. Later, a part of these assets was transferred to the state-owned JSC “Azerbaijan Industrial Corporation”.
“Under the hammer” on October 5, it is planned to sell land plots, apartments, individual residential buildings, non-residential premises and buildings. The real estate put up for auction is located mainly in the Absheron region (20 objects), including 17 apartments in the “Gobu Villige” residential complex. 8 objects are offered to investors in Baku. Real estate objects are also put up for auction in Ganja (1) and Shamakhi regions (2). Their total value is estimated at 5 million 319.300 manats.
It has to be noted that the initial cost of the objects is estimated quite high, close to the market. For example, 25 hectares of land in the village of Akhmedli of Shamakhi region, which probably belongs to the category of agricultural purposes, is estimated at 140, 000 manats or 5,600 manats per hundred. Or a small apartment (68 m2) in the center of Baku is offered for sale at 175.300 manats.
Source: Turan News Agency