KZT 852 mln allocated to Purchase Kazakhstan Embassy building in Netherlands

Astana. May 5. Silkroadnews – KZT 852 bln has been allocated for the purchase of Kazakhstan Embassy building in Netherlands by the 2014 budget, as Kazakh Ministry of Economy and Budget Planning reports.
“Taking into account that property prices are falling in Netherlands and, as a consequence, the return on investment will be quick, the Republican Budget for 2014 allocated KZT 852 mln to purchase the administrative building of Kazakhstan Embassy in Netherlands”, the Ministry’s Press Office reports.
At the same time, the Ministry stated  that “the purchase of Kazakh Embassy building in Paris is a one-off event that is important both for political as well as for investment reasons”.
As reported earlier, Kazakhstan intended to purchase its Embassy building in Paris this March.
“… it will always be a state asset. Property prices are rising annually. That’s why Embassy buildings tend to be purchased as opposed to being built”, Kazakh Minister of Economy and Budget Planning, Yerbolat Dosayev replied to journalists.
KZT 10.6 bln is allocated by the Republican budget to purchase the Kazakh Embassy building in Paris.
$1 = KZT 182.02.