ECONOMY

Four state properties abroad fetch 41 mln euros

The sale of four state properties abroad has fetched over 40 million euros, the state privatization fund (TAIPED) announced on Wednesday upon the completion of the process.

Fund officials were clearly satisfied as the properties in London, Belgrade, Brussels and Nicosia have brought 41.1 million euros into state coffers. “In a difficult period our choices have been vindicated, which is encouraging us for the future. We are particularly satisfied with the outcome,” said TAIPED chief executive officer Yiannis Emiris.

The consul’s residence in London accounts for the bulk of that amount as it was sold for 23.3 million pounds (27.4 million euros), from a minimum sale price of 22 million pounds.

The plot in Nicosia was sold for 8.3 million, compared to an asking price of 5 million. Investors also paid 3.24 million for the property in Brussels and 2 million for that in Belgrade.

The news comes at a time when the government is eager to show results from its efforts to privatize state assets.

TAIPED’s governing board decided yesterday that the two properties that received no bids, in Tashkent and in Ljubljana, will enter a new tender within the next two weeks.