The Ministry of Construction of Tatarstan holds explanatory meetings on the issue of transition of the construction industry to project financing
At the extended meeting held today under the supervision of the Ministry of Construction, market participants discussed topical issues of the transition of the construction industry to project financing. The Ministry of Construction pays special attention to the explanatory activity. Working meetings, meetings with representatives of banks, developers and authorized control (supervision) bodies in the field of shared construction are held regularly. The current meeting was the third event of this kind. During the speech, Deputy Minister Ilshat Gimaev, referring to developers, recalled: the law establishes that from 1st of July 2019, the attraction of citizens' money for shared housing construction is allowed only using escrow accounts. Exceptions to this rule are established only for apartment buildings that meet the criteria established by the Government. Invited to the meeting, the Deputy Head of the Housing Policy Department of the Executive Committee of Kazan, Ayrat Akhmetkhanov, told the participants about the procedure for the formation and the provision by the developers of a statement on the readiness of the construction project with attachment of quarterly reports.