The first auction within the framework of the "Land Bank" took place in Ukraine.

A plot in Vinnytsia was auctioned for over 3 million UAH

The first online auction of sublease of state agricultural lands took place on the "Prozorro.Sales" platform. This was reported by the State Property Fund. The winning site was over 115 hectares, located in the Vinnytsia region. Over 3 million UAH was paid for the right to rent it.

The goal of the "Land Bank" project is to increase the efficiency of state land use and increase budget revenues.

14 participants competed for the right to use the land plot. The price during the auction increased more than six times: from the initial 495,588 UAH to 3 million UAH per year.

The winner was a farming enterprise that must pay the proposed asset value within 20 working days, as well as VAT in the amount of 604,000 UAH.

After payment, the lessee will receive the right to use the land plot with an area of 115.18 hectares for 14 years. The purpose of the land is auxiliary agriculture.

On October 1, the State Property Fund will hold another 16 land auctions on the "Prozorro.Sales" platform. The funds collected during the online auctions will be directed to the state and local budgets - reported Minister of Agrarian Policy Vitaliy Koval.

By the end of the year, the SPFU plans to auction almost 100,000 hectares of state agricultural land in 20 regions of Ukraine. Plot sizes vary from 1 to 4000 hectares, each of which will be auctioned as a separate lot. The starting value will be equal to 12% of the regulatory monetary valuation of the land.

Source: Forbes Ukraine