The government plans to sell the 5.2-hectare land on Tighina Street, formerly occupied by the Republican Stadium, to the US Embassy through an agreement for approximately €15 million.
The process of negotiating the document that will unlock the sale of the land has been initiated by the Cabinet of Ministers. The negotiating team will announce the final price of the transaction once all processes are completed.
The government representatives have stated that the funds generated from the sale of the land will be allocated towards the establishment of the Centre for Culture and Contemporary Art “Universe,” the renovation of sports schools nationwide, and the feasibility study and design of the future National Stadium.
“The sale will be made at a fair price and is subject to several mandatory conditions. These objectives encompass preserving the gates as a valuable architectural object, creating a green area on the land, and complying with height restrictions. The draft will be approved by the ministries and the Parliamentary Committee on Foreign Policy and European Integration by 10th April.
Negotiations will then commence to determine the precise wording of the new agreement, including the final transaction amount, construction height, and the funds to be provided by the American side to repurchase the buildings from private owners,” the message from the Government states.
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As a reminder, in April 2022, a Memorandum of Understanding was signed to initiate the procedure for the sale of the Republican Stadium property. A diplomatic mission headquarters and a park will be constructed in the location of the previous building.
The deadline for implementing the memorandum is set to expire on 28th December 2023. An amendment has been signed by the parties involved, extending the deadline to June 2024. The Public Property Agency has announced several tenders to find an appraiser for the land. However, no announcement has been made regarding its value.