Investors are reluctant to participate in auctions due to political instability - the Mayor of Zaporozhye

11.09.2008 00:00
Investors are reluctant to participate in land auctions in connection with political instability, said Mayor Eugene Zaporozhye Kartashov at an extraordinary session of the City Council on Wednesday, September 10. "The indicator for land auctions - investors are reluctant to offer, as there is greater political instability", - he said.

This information in an interview with Interfax-Ukraine "confirmed Deputy Mayor Sergei Gladchenko. "Changes in the political situation have caused changes in the financial sector. This is related to the loan and interest rates. Many of those who were going to buy the land, had planned to borrow from the bank. But now the situation in the banking sector is not entirely benevolent in this regard "- he said.

Foreign investors, he said, alarming, any changes in land laws. "Ukraine is not fully worked through question related to the licensing litsetatoru. And they are at this moment look very carefully, "- noted the official.

During preparation for the auctions of rights to lease and sell property rights to be held in Kiev in September, organizers of the auction are faced with the fact that few investors making a deposit, took it the next day and refused to participate in the auction.

"We've had this was not. They explain it in different ways - either they have not approached the site, or they have something misunderstood. Many more cautious look at that point that if they fail to comply with all rules of the auction, the deposit sum, they may not be returned. But these risks are common and understandable - if companies behave correctly, and implement all the provisions, it is natural security deposit will be returned ", - said Sergey Gladchenko.
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