MOSCOW, April 8 (UPI) -- An auction of Russian military real estate was postponed Tuesday because of a shortage of bidders.
Defense Minister Anatoly Serdyukov did not set another date for the auction, Interfax reported. Serdyukov said his ministry would take over the sale of the surplus property from the Federal Property Fund.
The aim of the sale is to raise money for housing for military officers and their families. Thousands of officers are still waiting for the apartments they are entitled to by law.
The ministry hopes to get $110 million for one site on the outskirts of Moscow, a 30-acre lot close to the Moscow River surrounded by woods and the houses of the rich, the Moscow Times reported. The site is a former Air Force procurement facility.
The other site is smaller and has much less prestigious surroundings, empty warehouses surrounded by a military hospital. The asking price is just under $50 million.
