South West | Real estate

$8.5m to relocate citizens from Olympics area

1 Oct '09
State corporation Olympstroy has announced an open tender among developers for a contract to build apartment blocks in Sochi’s Adler district for relocation of residents, living in the houses in the Olympics construction zone.

The maximum price for the contract is set at $8.5m.

The apartment blocks are to be built on a 1.8-hectare land site in Veseloye-Psou district on the border with Abkhazia – not far from Imeritinsk Valley, where main Olympics facilities are to be located, the corporation said.

Under the contract, 256 apartments are to be built by May 2010.
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Locations: Sochi; Krasnodar Krai

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