DIPLOMATIC AGENCY BECOMES COMMERCIAL PARTNERSHIP

Business | October 26, 2001, Friday // 00:00

The Diplomatic Estate Agency will be transformed into a commercial partnership, the Cabinet decided. The agency will be transformed two months after a promulgation decree of the Cabinet in the Official Gazette. Foreign Minister Passy will appoint a special liquidation commission for this purpose. 74% of the buildings under the Diplomatic Estate Agency are leased by persons with diplomatic status. `Their contracts will be renewed under the same terms,` the Foreign Ministry announced. Rents vary between USD 5 and USD 10 per sq. m, depending on the location of the house and the auxiliary services. The Diplomatic Estate Agency currently employs 335 people. The ministry is not going to dismiss any of them because the quality of the services is very good.

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