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Moscow Region Plans $20M Property Sale

The Moscow region will privatize real estate worth more than 600 million rubles ($18 million) before the end of 2013, Kommersant reported Monday.

Four two-story buildings dating from the turn of the 20th century, now in use as office space, will be sold in Moscow itself, and four in the Moscow region. Among these is the Krekshino mansion, 25 kilometers beyond the ring road, which is classified as a culturally significant building.

The Government also announced plans to sell its shares in two small companies in the region.  

"During an inventory check, we judged that the eight items that are up for sale are being used inefficiently," said Andrei Averkiyev, the region's property minister, adding that the review, covering 150 items of real estate and shares in companies, is ongoing.

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