Russian Army Plans Massive Land Auction

Posted by: Nate Berg

13 March 2008 - 7:00am

In order to raise money to provide much-needed housing for its soldiers, the Russian Army has plans to auction of millions of dollars worth of property -- from huge mansions to entire towns.

"Newspapers in Moscow say the auction will include mansions, unoccupied land, and even whole towns."

"The purpose of the sell-off is to raise money to build much-needed modern housing for army officers."

"No fewer than 122,400 military families are said to be waiting for self-contained accommodation."

"Some have been on waiting lists for years."

"Going under the hammer will be 'fabulous mansions and guest houses, dilapidated garrison towns, unused shooting ranges and vast tracts of neglected land, on which no human has set foot for years'."

Full Story: Property sell-off by Russian army

Source: BBC, March 12, 2008