Azerbaijan: Baku Entrepreneur to Purchase Abandoned Soviet Military Facility in Latvia

Azerbaijani businessman Magomed Gurbanov is set to purchase a vintage $3-million housing complex in Latvia that used to accommodate Soviet soldiers.

A Russian developer made the highest bid in a recent auction to privatize the 45-hectare property, but the company was disqualified after it failed to make the first payment on time, the Baltic Course news service reported on February 23. The Latvian Privatization Agency then turned to Gurbanov, who placed the second highest bid in the auction.

Located in Latvia's western Kurzeme Province, the property features residential buildings, a kindergarten and a hotel that were built when Nikita Khrushchev held power in the Kremlin roughly 50 years ago.