Russian Government Transfers Assets in 14 Regions to Dom.RF
Russia transfers historic Madrid Hotel and federal assets to Dom.RF for revival
The Russian government has transferred assets in 14 regions under the management of Dom.RF, including 12 hectares of land and over 52,000 square meters of buildings, among them properties in Yekaterinburg, the state-run housing agency's press service told our website.
Assets to Be Auctioned Off
The assets will be put up for auction. The list includes:
- The Madrid Hotel in the Uralmash district;
- The "House with a Mezzanine", part of the Yelizarov Estate on Belinsky Street;
- The White Tower.
New owners will have access to preferential financing to help restore the properties and adapt them for modern use.
"Transferring underused federal assets to Dom.RF has proven effective: we see investors engaging with these sites, launching new projects, and taking on commitments to preserve cultural heritage landmarks," said Deputy Prime Minister Marat Khusnullin.
- In 2017, the Great Silk Road company leased the Madrid Hotel. It signed a 50-year agreement for the crumbling building at a symbolic rate of 1 ruble per year, planning to turn it into the "Mao Friendship House"—a complex with a museum, restaurant, hotel, and ceremonial hall. In 2020, federal inspectors found that the investor had failed to meet its obligations, and the owner unilaterally terminated the contract.
- In 2021, then-Governor of Sverdlovsk Region Yevgeny Kuyvashev proposed transferring the Madrid Hotel from federal to regional ownership.
- Plans to hand the hotel over to Dom.RF were announced in January 2026.
- In 2023, restoration of the White Tower was estimated at 81 million rubles. That same year, the architectural collective Podelniki launched a crowdfunding campaign to restore the landmark.
