South West | Real estate

$37m to relocate citizenry in Volgograd region

13 Mar '09
A total of $37m is to be spent to relocate citizenry from housing, deemed beyond repair, in Volgograd region, officials report.

Of the total funds, $27m is reportedly to be assigned from the federal budget, with the remainder to be put up by regional authorities.

The funds are to be used to buy out apartment blocks under construction, which have been completed by at least 70%, and to finish construction of those, officials said.

Under plans, 800 apartments are to be purchased with the funds and to be given to residents, relocated from outworn housing.
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