More than 180 companies engaged in shared equity construction in Moscow
23 new companies have joined the list of bona fide developers of Moscow. It is based on Q4 reports of 2015 provided by companies carrying out their activities in the capital.
According to Moskomstroyinvest (Moscow Committee for Realization of Construction Investment Projects and Co-Investment Agreements), today in Moscow there are 181 companies operating in the framework of the federal law on participation in the shared equity construction (214-FZ).
The list of bona fide developers is regularly updated. Companies which attract citizens’ money in shared construction projects are obliged to submit quarterly reports to the supervisory authority – Moskomstroyinvest.
“Citizens who plan to buy an apartment have access to this list which includes developement companies operating according to 214-FZ and certain addresses of the objects. When buying an apartment it is important to make sure that not only the company itself, but also a certain address of the future house is in the list,” said Konstantin Timofeev, Chairman of Moskomstroynvest.
According to him, 156 companies out of 181 have submitted Q4 reports in electronic format. Since March 1, reports are submitted only through the portal of state and municipal services.
It have to be recalled that purchases of homes in housing, construction of which has not yet been completed, occur on the basis of shared construction participation agreements concluded with a development company. This order is provided by the federal law “On participation in the shared construction of apartment buildings and other real estate facilities and on amendments to some legislative acts of the Russian Federation” (214-FZ).
Owing to this order activities of developers can be monitored. It is also important that the co-investors make payments only after completing state registration of the document.
The list of bona fide developers can be found on the portal of the Construction Complex. In addition, the website of Moskomstroyinvest updates information on companies which do not fulfill obligations to equity holders, and on companies for which the bankruptcy procedure has started.