Properties owned by subsidiaries of the New Towns Development Company are to be sold through the Iran Mercantile Exchange, a board member of the company said.
"We have 19 subsidiaries in the country…They own large properties that are planned to be sold through the IME after registration with the IME," Tasnim quoted Sadeq Akbari as saying
Residential units owned by the subsidiaries of New Towns Development Company are currently sold through conventional auctions.
"First we need to publish announcements in newspapers to inform the public. IME will allow us to sell the real estate in an efficient and transparent manner," he added.
Earlier this month a piece of commercial real estate in Pardis City in Tehran Province was sold via the IME.
"As more people are showing interest in the capital market, there is a great opportunity to sell assets through the auction-based model of trading at the IME," he said.
There are plans to set up a specialized exchange for real estate deals. The High Council of Securities and Exchange approved a decision to this effect last month.
