Irkutsk
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Chita
Yakutsk

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Vladivostok
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Moscow

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Developers want to give land in exchange for assistance to equity holders

Developers want to give land in exchange for assistance to equity holders
Photo: pixabay.com

The Russian Ministry of Construction intends to encourage developers to help defrauded equity holders. The agency offers without bidding to transfer land to them for the construction of multi-apartment buildings in exchange for completing work in long-term construction.

According to TASS, the new rules provide for the possibility of concluding a land lease agreement with a legal entity that has assumed obligations to complete the construction of construction in progress and to fulfill the obligations of the developer to interest holders.

A draft of the relevant decree of the Government of the Russian Federation has already been published on the federal portal of draft regulatory legal acts. As stated in the explanatory note, it is aimed at reducing the level of social tension in society and protecting the rights of deceived equity holders.

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