Developers of St. Petersburg are switching to project financing

According to the Unified Information System for Housing Construction, more than a hundred Russian developers did not wait for the official entry into force of amendments to the law on shared construction and have already switched to project financing.

As of April 2019, in 214 objects 117- These apartment developers are already selling apartments using escrow accounts.

Russian Prime Minister Dmitry Medvedev signed a resolution that defines the conditions under which developers will be able to complete the construction of their facilities with the direct attraction of funds from equity holders, without switching to escrow accounts . Earlier, the Ministry of Construction estimated that half of all current construction projects in Russia could be completed under the old funding rules.

The LenRusStroy company is already operating in St. Petersburg under the new rules, which is building the Novoye Gorelovo complex in the Krasnoselsky district. According to preliminary estimates, the construction of 9 million square meters of housing out of 14 will be completed in the city according to the old financing rules. In the Leningrad region, 4 million square meters out of 7.

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