Khusnullin accepted adoption of additional measures to solve the problem of deceived funds

05.03.2020

Deputy Prime Minister Marat Khusnullin said that in the near future he will evaluate what measures should be taken at the government level to expedite the solution of the problem of defrauded equity holders. On Tuesday, he discussed this problem with the director general of DOM.RF Vitaliy Mutko.

“We discussed in detail, including problems with interest holders. We discussed what specific solutions are, what are the immediate, current tasks. Next week I will hold a workshop with him, see how it is being implemented, what measures need to be taken at the government level, to speed up this work, what measures need to be taken at the DOM.RF level, ”Khusnullin told reporters.

According to the Unified Register of Problem Objects, in Russia there are 2,975 long-term construction projects. According to the law, the completion can be carried out both by the forces of the Federal Fund of interest holders and local authorities. Regions have the right to create special funds for the completion of problematic facilities – at the expense of the compensation fund, federal, regional and municipal budgets. The completion of problem objects of shared construction was included in the number of measures of a single plan to achieve the national development goals of the Russian Federation until 2024

Approach to escrow

The Deputy Prime Minister also said that developers who faithfully fulfill their obligations should be able to stage-by-stage disclosure of escrow accounts in which interest holders’ money is stored, but this issue must be approached carefully.

 “Here we need to take a very balanced approach to this issue. What I need to find a mechanism for developers to disclose earlier, to receive money for the construction, if they clearly fulfill their obligations, I think such mechanisms need to be found. At the same time, the main question – revealing these mechanisms, will we get a guarantee that the object will be completed. We think about it, it’s too early to draw conclusions, ”Khusnullin told reporters on Wednesday.

The Deputy Prime Minister added that he is now assessing the situation and preparing proposals. “I can tell you for sure that we are doing this,” said Khusnullin.

At the end of September 2019, at the Environment for Life forum in Veliky Novgorod, Minister of Construction and Housing and Public Utilities Vladimir Yakushev announced that the Ministry of Construction was ready to discuss the issue of phased disclosure of escrow accounts. He noted that for the implementation of the idea, you need to wait until the banks increase their competencies in working with escrow accounts.

Since July 1, 2019, Russian developers have lost the opportunity to attract money from equity holders directly. The funds of citizens invested in the purchase of housing are stored in escrow bank accounts, while construction is carried out at the expense of bank loans. Developers can use the money of interest holders only after putting the object into operation and registering the right of ownership of the first apartment in the Unified State Register of Real Estate. Changing the housing financing system, which involves a complete rejection of the direct attraction of equity holders, is part of the national project “Housing and Urban Environment”.

About development of the construction industry

Marat Khusnullin said that the development strategy of the construction industry until 2030 requires some adjustment.

“I looked at the country’s strategy, of course, it needs some refinement both from the point of view of strategic decisions at the country level, and from the point of view of individual regions,” said the Deputy Prime Minister.

The strategy will cover the areas of housing, infrastructure, industrial construction, digitalization, building materials and equipment. It will also affect the scope of regulation and regulation, training. It will be based on mechanisms that will be used to achieve the targets of the national project “Housing and Urban Environment”, which provides for bringing housing commissioning volumes to 20 million square meters by 2024. m per year and the improvement of living conditions of 5 million families annually.

About financing construction projects

According to the Deputy Prime Minister, the Russian government will take stock of the transition to project financing of housing construction by the summer. Currently, about 10% of projects are built without using escrow accounts.

“Moscow switched painlessly to project financing. The situation in the country is still more complicated, in some regions about 10% of projects have not yet switched to project financing, somewhere more. I think that by the summer we will have the whole picture who will be able to finish building according to the old scheme, and who will build escrow accounts, and who, apparently, will not be able to build at all, ”he said.

Khusnullin added that, based on this, the government will take additional measures to resolve this issue.

Since July 1, 2019, Russian developers have lost the opportunity to attract money from equity holders directly. The funds of citizens invested in the purchase of housing are stored in escrow bank accounts, while construction is carried out at the expense of bank loans. Developers can use the money of interest holders only after putting the object into operation and registering the right of ownership of the first apartment in the Unified State Register of Real Estate. Changing the housing financing system, which involves a complete rejection of the direct attraction of equity holders, is part of the national project “Housing and Urban Environment”.