State Offers to Rent Rooms at 3-4 Times Lower Price than Market Value

The State Committee for Property Affairs (SCPA) brought to a contest two non-residential premises of Azerbaijan Technical University (ATU). The starting price of the rent is about 3 times lower than the market price.

According to the announcement, the premises of 442.6 m2 and 63 m2 are located on the ground floor of a building at Baku, 25 Huseyn Javid Avenue (next to the Elmler Akademiyasi subway). Starting monthly rent is set at 1460.58 and 249.48 manat or 3.3 and 3.9 manat per 1 m2, respectively. In this district, 1 m2 of non-residential premises is offered for rent for at least 12 manat, realtors say.

One of the conditions to potential tenants is to use these facilities on a specific academic profile of the enterprise.

Evaluation of bids will be held on December 23.

Leasing of immovable property under the terms of competition stated in the Rules was approved by the presidential decree of 20 June, 2007. Until now SCPA tendered several facilities in telecommunications nodes in Baku and regions of the country. --08D--

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