OREANDA-NEWS. On 14 April 2009 was announced, that the Moscow City Government decided to purchase 15 buildings located in Presnensky township of the Russian capital for 1.5 billion roubles (~USD 44 million).

“These structures are intended for developing homes and moving residents of the blocks of flats located in neighbourhood No 804 called Kamushki into them,” a source from City Hall said.

The official added that Moscow Mayor Yuri Luzhkov had signed the decree, according to which, buildings 1, 2, 4, 5, 7-17 on 14 Presnensky Val possessed by JSC Plant Krasnaya Presnya were to be bought in the first half of 2009. The realty will be transferred into Moscow’s ownership for the market price that equals 1,514,529,000 roubles including VAT.

The source also noted that Vladimir Resin, head of Integrated Body for Urban Design Policy and Development of Moscow, was to submit a draft act aimed at determining the order and period of development of the site on 14 Presnensky Val for approval by City Hall in the first half of 2009 as well.

The realty on the site will be under the economic management of Stroyeksprom state unitary enterprise till the start of development.

According to the official, the total area of 15 buildings to be purchased by the city government of Moscow is 23,710 square metres.