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Bulgarian Defence Ministry Lists 243 Properties For Sale

The Bulgarian Defence Ministry will put 243 properties around the country up for sale in autumn, as it attempts to shed redundant assets, defence minister Nikolai Tsonev said.The listings will include land plots, buildings, shops, warehouses and community centers in Sofia, Plovdiv, Varna, Bourgas and several resorts. The properties that will be listed for sale are part of the 713 defence ministry properties classified as redundant.The method of disposal will depend on the location of the land plots earmarked for privatisation. Some will be sold straight away, while others will be developed by the ministry itself. A third option is to sell the building rights but retain ownership of the land.Going forward, the property disposals will be handled by a newly created department, the military infrastructure, asset management and investment directorate-general.The ministry plans to use the revenue generated by the sale of property to modernise the armed forces and purchase housing for its personnel.