The Urban Space 2016 Meeting of real estate market leaders took place where leading developers, real estate market consultants and representatives of authorities discussed the reform of Federal Law No. 214, setting up of a compensation fund for insurance of co-investors and creation of a register of good faith developers.
Nikita Stasishin, Deputy Minister of Construction and Public Utilities, devoted his speech to legislative changes, such as amendments to Law on Co-investors No. 214 and setting up of a compensation fund that will take effect in 2017. In turn, German Yelyanyushkin, Deputy Chairman of the Government of the Moscow Region spoke about the Shared Construction Compensation Fund that will be formed using the funds of shared construction housing developers and serve to compensate individuals for losses or to build up housing. The Fund is to begin its operations as of January 1, 2017. The presentations by developers and consultants touched upon new initiatives: lending to developers and restructuring of bank mortgage payments. Olga Dmitrieva, General Director of Coalco Development, represented COALCO at the Urban Space 2016 Meeting of real estate leaders