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In the first of a series of auctions, Russia's Defense Ministry
In the first of a series of auctions, Russia's Defense Ministry sold two military properties in Moscow for $110 million and $50 million on Tuesday.

The first property, a military base located on the exclusive Rublyovskoye highway in western Moscow, went for 2.6 billion rubles ($110 mln).

The lot consists of buildings, facilities and three plots of land.

The second property, on Levoberezhnaya street in northwest Moscow covering a total area of 28,400 square meters, was sold for 1.145 billion rubles ($50 mln).

The auction, aimed at raising funds to build housing for servicemen, was initially scheduled for April 8, but was postponed due to a lack of bidders.

The ministry first announced plans to auction off over 20 military facilities across Russia in March.


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