The head of  Minstroy: we need to increase the transparency of construction


The Ministry of Construction and Housing and Communal Services prepared a package of amendments to the law on shared construction (214-FZ), said the head of the Ministry of Construction Vladimir Yakushev.

“We must solve an important task – to make the market and the procedure of shared construction transparent. And for this it is necessary, first, to get away from the “boiler method” by applying the principle “one building permit – one settlement account”. And secondly, to provide bank support, “the minister said.

Vladimir Yakushev clarified that from July 1, 2019, a transition to special accounts is planned, where the money will be attracted to equity holders.

“This account will not be at the disposal of the builder. The funds will be blocked, and under them the developer will be able to open a credit line in the bank. After the keys to the apartments have been handed over to the buyers, the credit line will be repaid on the account where the equity holders have accumulated, and the developer will receive his profit. This mechanism will make it possible to use the money of the equity holders exclusively for construction, while at the same time keeping them as high as possible and not allowing the pyramids, “the head of the Ministry of Construction explained.

Such measures, in his opinion, should “withdraw from the game” unscrupulous developers and avoid the appearance of deceived co-investors.

It should be noted that Russian President Vladimir Putin, during a straight line on June 7, announced his intention to abandon the equity mechanism for financing construction projects altogether.

“We have decided to cease from July 1, 2019 to conclude new agreements for shared construction and to raise funds exclusively through the system of financial institutions, through banks for these purposes,” Vladimir Putin said.

Source: Construction  Complex of Moscow

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