The city of Moscow is planning to sell a majority stake in Gorky Park, a recreation centre in central Moscow, by the end of 2007, Russian newspaper Kommersant reported. The park, which was opened in 1982, covers around 100 hectares in central Moscow. According to Kommersant, its market value is estimated at $1 bn (EUR 733 mln). Under the plan, the Moscow authorities will set up a joint venture with an investor specialised in the management of recreation parks. The partnership will be controlled 25% to 50% by the government with the remaining stake to be owned by the investor. The city will not hold a public tender to sell the property.
The city of Moscow is planning to sell a majority stake in Gorky Park, a recreation centre in central Moscow, by the end of 2007, Russian newspaper Kommersant reported. The park, which was opened in 1982, covers around 100 hectares in central Moscow. According to Kommersant, its market value is estimated at $1 bn (EUR 733 mln). Under the plan, the Moscow authorities will set up a joint venture with an investor specialised in the management of recreation parks. The partnership will be controlled 25% to 50% by the government with the remaining stake to be owned by the investor. The city will not hold a public tender to sell the property.
