Under a new agreement, the 5.2-hectare lot situated on Tighina St in Chisinau will be sold to the U.S. Embassy in Moldova for building the new embassy compound on it. The Cabinet initiated the negotiation of the document that will unlock the sale process and this entire sector of Chisinau will be revitalized. It is estimated that the sale price will be about €15 million. The final data will be made public after the negotiating team concludes all processes, IPN reports.

The Cabinet noted that the selling price will be a fair one and the sale will include some mandatory conditions, like keeping the gates as a valuable architectural object, creating a green area on that lot and respecting height restrictions. The proceeds will be allocated for creating the Center for Contemporary Culture and Art “Universul”, repairing the sports schools across the country and carrying out the feasibility study and designing the future National Stadium.

By April 10, the draft agreement will be approved by ministries and the parliamentary commission for foreign policy and European integration. Subsequently, negotiations will begin to agree the exact text of the new agreement, including the final price of the transaction, the height of the construction and the amount that will be provided by the American side for the redemption of buildings from private owners.

The U.S. Embassy has been searching for a lot for new embassy compound for more than 20 years. The first discussions on this lor took place in 2008, shortly after the demolition of the former stadium in 2007. The first official request by the U.S. Embassy to obtain this lot was made in 2015 and since then representatives of the diplomatic mission have been discussing with the Moldovan authorities. The Embassy will invest at least US$250 million in this project, which will provide added value to the urban center of Chisinau, reads the Cabinet’s press release.