RussianProperty Fund
St. Petersburg Property Fund
St. Petersburg Property Fund is the only authorized seller of state property of St. Petersburg
The work of the St. Petersburg Property Fund is regulated and coordinated by the Committee for City Property Management (CCPM).
Over the last 5 years of operation (2005 - 2009) the Property Fund sold more than 8,700 objects worth over 75 billion rubles.
Currently, the Property Fund is a leader on the real estate market of St. Petersburg in terms of sales volume and the scale of its projects.
Sales Objects:
- buildings with land plots(for lease and for sale)
- land plots for capital construction (for lease and for sale for individual housing construction purposes)
- stocks and shares in registered capital in various companies
- dilapidated apartments
- enterprise property portfolios
- movable property
Ways of Sales:
Under the current law state assets are mostly sold through auctions. The St. Petersburg Property Fund holds classic English auctions with the auctioneer. The only prerequisite is the willingness of the winning party to pay the highest price. In this case the purchase price usually exceeds the starting price on average by 2.5 times, which clearly demonstrates the effectiveness of the auction method.
Open auctions held by the St. Petersburg Property Fund are a part of the investment policy of the St. Petersburg Administration. Auctions of city assets had brought to St. Petersburg a large number of major companies from abroad and from other Russian regions. British Petroleum, Shell, Neste, YIT Finnish construction company, are regular participants in auctions for sale of lease rights to construction site land plots. Rocco Forte, Lukoil, Glavstroy, LSR and LEK companies gained access to St. Petersburg market by participating in auctions organized by the Property Fund.
Visit the official website of the St. Petersburg Property Fund at www.property-fund.ru
Visit the official website of the Leningrad Region Property Fund at www.leofi.ru
Assistance Provided by Piter Development Staff for Customers at Property Fund Auctions:
Purchasing items at property auctions organized by the Property Fund is a process that has many pitfalls unknown to novice investors.
Our experts will help you prepare auction documents and avoid mistakes that can hinder your plans for the investment project.
If you should have any questions or do not have time to fill out all the documents, please contact us by filling out the feedback form, or call our office.