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Azerbaijani State Committee on Property Issues to hold next auction

Azerbaijani State Committee on Property Issues to hold next auction
Azerbaijani State Committee on Property Issues will held the next auction on July 9, 2019, Trend reports referring to the Committee.
Some 77 facilities of state property will be put up for the auction. Citizens and investors are given the opportunity to choose from 22 joint-stock companies, 46 small state-owned enterprises and institutions, and nine non-residential premises.
According to the Committee, a wide range of small state-owned enterprises and facilities, differing in terms of territory, price and utility, will be provided during this auction. These facilities, the initial auction price of which varies from 600 manats to 550,000 manats, are located in Baku, Sumgayit, Balakan, Sheki and other parts of Azerbaijan, and allow the potential investor to carry out business activities in various fields.
The auction also has a wide selection of offers for large investors, the Committee reports. One of them is a property complex located in the Balakan District occupying a useful area of ​​about 3,000 square meters and a total land area of ​​90,000 square meters. Its initial value is 550,000 manats.
The enterprises put up for auction include, among others, a part-time farm located in the Khizi District, an unbuilt 36-apartment residential building in Mingachevir, the Yevlakh production enterprise, and Shamkir wool harvesting center, which needs renovation to restore its activities. As the Committee reports, taking into account the high potential of paying for raw materials purchased for the textile industry, this property can be turned into a very profitable production. The area occupied by the object is 3,312 square meters, and the total land area is about 63,000 square meters.
Five of the non-residential premises put up for auction are located in Baku, while the rest are located in Sumgayit. The usable area of ​​these premises ranges from 21 to 140 square meters.
Among the joint-stock companies put up for privatization are cement, poultry-farming, agricultural, transport, construction, repair and trade enterprises, as well as facilities for manufacturing, processing and other sectors. Such joint-stock companies include Qax Taxıl, Masazır Quşçuluq, Salyan Aqrotexservis, and Yevlax Tikinti Servis.
According to the State Committee on Property Issues, foreign investors, along with Azerbaijani citizens, can take part in the privatization process through an electronic auction system. By registering online and paying 10 percent of the original price, the bidders can order the selected property. As reported, any person can take part in the auction held by the State Committee, as a buyer or as an observer.

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