OREANDA-NEWS. July 24, 2008. The Kuban authorities have allocated 500 million rubles for creation of the gambling zone as of today. Southern gambling zone Azov-City will be located on the border of the Krasnodar and Rostov regions and occupy 100 hectares. Construction of the gambling zone engineering infrastructure will begin in the middle of August 2008.

The road leading to the gambling zone is already under repair. Design work for utility systems is finished and currently under approval, Interfax reports.

At present, the Krasnodar region authorities are holding a second round of auctions to sell tenant rights for the plots of land in Azov-City. Main requirements for the bidders are to start construction on November 1, 2008 and finish by June 1, 2009.

According to the agency, five land plots will be auctioned in the next round. The starting price of their annual rent is 113-119 thousand rubles on average; minimum investment in construction of sites on these land plots is 120 million rubles. Not less than 5,000 square meters of area will be built on each plot.