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In Primorye, found a new way to help deceived equity holders

In Primorye, found a new way to help deceived equity holders
Photo: zspk.gov.ru
The authorities of the Primorsky Territory intend to attract investors to solve the problem of defrauded equity holders in the region. Those who agree to complete the long-term construction will be offered, in a simplified manner, to lease land for their projects.

According to the press service of the Legislative Assembly of the region, at an extraordinary meeting, the necessary amendments were made to the article of the regional law on the regulation of land relations. The document expands the list of criteria for investment projects applying for land without tender procedures. 

The amendments have already been adopted and now the number of investors who can take advantage of the simplified procedure includes legal entities that have undertaken obligations to complete multi-apartment buildings. Another condition for obtaining land for them is the cost of a future project, which should be at least five million rubles. 

Previously, in order to lower housing prices, the Primorye authorities offered investors implementing complex development projects assistance with engineering and road infrastructure. In exchange, developers will have to provide for some of the apartments in the amount of support provided by the authorities.

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