Regions should solve the problem of co-investors in mid-2012

17.12.2010 17:54
State plans to mid-2012 to solve the problem defrauded real estate investors, which in Russia has about 60,000, to do so should the regional authorities, curled deputy Konstantin Royal Ministry of Regional Development on Friday on a conference call with representatives of Russian regions.

"The work must be organized so that by mid-2012 it completed. To all those defrauded real estate investors who are now registered, ushili from this category. This is a task of the Russian Federation", - said Royal.

According to him, this period was set at the first meeting of the Coordinating Council of the Russian government to facilitate the completion of housing construction, implemented with the involvement of individuals. Conference call with the subjects of the Russian Federation Ministry of Regional Development on defrauded real estate investors also passed first time, the deputy minister said.

As explained by King`s reporters, the problem will be solved primarily by attracting private investment. He expressed the view that regional governments must show a "creative" approach to its solution.

Deputy Minister during the conference call asked the regional authorities until Dec. 25 to submit to the Ministry of Regional Development accurate data on all the problematic construction sites and the exact amount defrauded real estate investors, on the basis of these data will be compiled general schedule for completion of construction of such facilities.

Royal told reporters after the meeting that it is necessary in parallel with the solution of problems defrauded real estate investors to improve the legislation so that this situation did not arise in the future. In his view, a useful innovation would be to create a new type of self-regulatory organizations (SROs) for developers that is building housing with the use of equity financing from apartment owners.

According to him, of about 60,000 defrauded real estate investors more than 30,000 are in the 20 most troubled regions. He added that the worst situation in the Krasnodar region, where thousands of registered 5.148 defrauded real estate investors. As explained on a conference call a representative of the edge, problems arose with the completion of two construction companies that is building housing in the Krasnodar and Sochi. According to him, in Krasnodar has reached an agreement on the completion of construction in Sochi, a decision has yet been found.
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