Russia’s construction ministry and banks discuss developer support and housing deadlines

Irek Faizullin held talks with banks, developers and regional officials after reports about a major builder’s situation. The ministry did not identify the company but stressed the need to complete projects and protect homebuyers.

Russia’s Construction Ministry discussed ways to keep housing projects financially stable and ensure developers meet their obligations to buyers. Regional officials, creditor banks, developers and the Federal Tax Service took part. Minister Irek Faizullin called for projects to be completed and commitments to apartment buyers fulfilled.

The ministry said the meeting focused on the situation involving one of the country’s largest developers, without naming the company. It also cited monitoring of risks to developers’ finances and construction deadlines, as well as enhanced oversight of some projects.

Lenta.ru linked its report to news about financial difficulties at Samolet Group. The outlet recalled that the company had asked the government for a preferential loan of 48–50 billion rubles in winter but did not receive it. The ministry’s statement did not confirm that the meeting concerned that company.