13.09.2010 Ministry of Economy and Sustainable Development and APLR Cooperate to Support State Property Privatization

Association for Protection of Landowners’ Rights, experienced broker acting on real estate markets, is entitled to initiate state property privatization process under the Memorandum signed with the Ministry of Economy and Sustainable Development of Georgia.

Within the above Memorandum APLR will search agricultural and non-agricultural state properties to which the third persons have no any rights to request titles and prepare respective documents for registration of such properties at Public Registry; APLR will also find potential investors interested in buying state-owned real properties or shares and mediate with the Ministry to sell these properties through auction or direct sale.  

When the selling price is agreed with the Ministry, respective auction shall be conducted. Investor can acquire state properties through direct sale, if the price of these properties exceeds 200,000 USD and the investor submits respective business plan and 10% bank guarantee of the proposed investment. In case the Ministry finds the business plan appropriate, it will address the Government of Georgia to initiate privatization through direct sale.

Cooperation between the Ministry and APLR will contribute to the efficiency of state property privatization process.