At a meeting in the Ministry of Construction on Wednesday, the first low-margin housing projects were identified, which will be provided with project financing with state support. Deputy Prime Minister Marat Khusnullin told reporters about this on April 7.
These are the projects of the residential complex “Heritage” in Vladimir and “Lokomotiv” in the city of Engels in the Saratov region ”.
According to Nikita Stasishin, Deputy Minister of Construction and Housing and Communal Services of Russia, this is the first interdepartmental commission in the history of the country, the work of which takes place entirely in electronic form – from the moment of accepting applications to their consideration and confirmation.
“The online format of work ensures transparency and openness of the commission’s work and excludes direct contact of commission members with banks and developers. Voting on project subsidies also takes place online. Based on the results of the voting, an electronic protocol will be formed, which will be signed by me using an electronic digital signature, ”Stasishin told reporters.
The program to support low-margin housing construction projects was launched by Russian President Vladimir Putin. Last year, he instructed the government to develop mechanisms for subsidizing the state interest rate on loans to developers. In 2021, 6.2 billion rubles were allocated to finance the program, the operator is DOM.RF. It is expected that the implementation of the program will make it possible to additionally build several million “squares” of residential real estate in regions with low rates of commissioning of apartment buildings.
“The Interdepartmental Commission considered two applications of creditor banks – Bank DOM.RF and PJSC Sberbank – that provided project financing for the construction of residential complexes in Vladimir and Engels, Saratov region. The total amount of compensation is 61.86 million rubles for the entire period of construction of projects, which is almost 10% of the total cost of construction of these facilities, ”said managing director of JSC“ DOM.RF ”Alexey Nidenz.
In Russia, since July 1, 2019, developers cannot raise money from equity holders directly. Citizens’ funds invested in the purchase of housing are kept in escrow bank accounts, while construction can be carried out at the expense of bank loans. Developers will be able to use the money of equity holders only after the facility is put into operation.
According to the Ministry of Construction, in those regions where the margin between the cost per square meter and the selling price is small, developers have a problem of obtaining project financing.