Land of Privatized JSC for Sale

Baku / 10.10.17 / Turan: The State Committee for Property Affairs resumed the sale of land for privatized joint-stock companies. According to the State Committee, an auction for the sale of a land plot for JSC Boradigah Chay-2 in the Masalli region was set for November 7.

The land area of ​​JSC Boradigah Chay-2 is over 3.8 hectares. It is estimated at 80 thousand manat. So much is the starting price at the auction.

According to the law, land plots for privatized objects are subject to privatization by their owners. In some cases, the State Committee for Property Affairs exposes these lands to an auction, explaining its effect with the fact that the owners refused to use this right. In reality, it becomes a "tool of struggle" with minority shareholders. After sale at auction, the land becomes the property of another person expressing interest of the holder of the main shareholding, and an opposition begins between them. In fact, the sale of land through an auction in Azerbaijan is a kind of coercion of minority shareholders to sell their stakes at low market value.

To date, the State Committee has held about 20 similar auctions. Land for privatized joint-stock companies was last sold at auction in 2015. -----08D