OREANDA-NEWS  On 23 October was announced, that the City Government of Moscow purchased the housing with the total area of 126,700 sq m in Podolsk of the Moscow region from Glavstroy.

Glavstroy won a tender for the right to make the government contracts for housing construction that had been organized by Department of Competition Policy of Moscow and that stipulates an equity participation of Moscow in financing the projects of housing development at the expense of the city budget.

The sum total of the contracts is about USD 342 million.

According to the agreement between the corporation and the city officials, Glavstoy will transfer 10 houses which are currently at a high state of readiness to the possession of Moscow.

Moscow purchased more than 100,000 sq m of housing in Podolsk, Zheleznodorozhny and Krasnogorsk from Glavstroy within the implementation of the social housing programs in 2007.