Moscow developers render quarterly reports online


Almost 150 Moscow developers, who build facilities using funds of co-investors, submitted their reports via the Internet, said Konstantin Timofeev, Chairman of Moskomstroyinvest (Moscow Committee for Realization of construction Investment Projects and Co-Investment Agreements).

“Today, 148 out of 185 Moscow construction companies, who attract funds of citizens, submitted to the Committee their reports for the fourth quarter of 2015 in electronic format,” said Konstantin Timofeev.

The representative of Moskomstroyinvest reminded that since March 1, 2016 quarterly reports can be rendered only via the portal of state and municipal services of Moscow. A number of companies have already submitted it online even before March 1.

Konstantin Timofeev noted that reports contain mandatory fields for filling in. “A developer must disclose his obligations towards the participants of shared construction in separate lines, this information is based on the cost of a shared construction participation agreement, the obligations of participants of a shared construction project in front of the developer, as well as the cost of construction in progress,” added Konstantin Timofeev.

He stressed that the developers who have not submitted reports via the Internet or provided incomplete reports, are subject to administrative responsibility.

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