Latvia puts up for sale nationalized “House of Moscow” in Riga: proceeds from the auction will be transferred to Ukraine

In Latvia, the nationalized House of Moscow was put up for auction . Its starting price is 3.57 million euros, and all the proceeds are planned to be transferred to support Ukraine. This was reported by Delfiand UNN.

Details

The property consists of a 966 square meter land plot and a building on it. The auction will start on August 20 and end on September 19. 

Persons wishing to participate in the auction must deposit a security deposit of 10% of the initial price of the real estate property to be auctioned to the current account of VNĪ SEB banka by September 9, 2024, and send an application for authorization to participate in the auction.

The property must be paid for within two weeks. Valsts nekustamie īpašumi will transfer the proceeds from the sale of the House of Moscow to the state budget, and then they will be used to support Ukrainians in general.

For reference

“The House of Moscow in the center of Riga was opened in May 2004 by former Moscow mayor Yuri Luzhkov and former Riga mayor Gundars Boyars. The building housed the Moscow Cultural and Business Center.

The Moscow City Hall bought the building of the former House of Culture of Railway Workers near the Latvian Railways in exchange for an equivalent building in Moscow. The House of Moscow website states that the Moscow authorities spent more than seven million dollars on its construction.

All the work of the institution is coordinated through a Latvian joint-stock company whose sole shareholder is the Moscow government. The annual work plan is approved personally by the Mayor of Moscow.

Recall

In the winter of 2024, the Latvian Saeima voted to transfer the building of the Moscow House cultural and business center in Riga to the state. The building was transferred to the balance sheet of the Ministry of Transport of Latvia.