Krasnodar, 25 September. The area of residential facilities commissioned during the first eight months of this year in the Kuban region grew by 5.7%.
In total, 2.5 million sq m of residential area were reportedly put in service in the region, of which 1.4 million sq m are high-rise blocks of flats. As for the private housing projects, their area was 1.1 million sq m (a 4.7% growth). “The cost of the construction works performed over the eight months of this year in the region amounted to 143.2 billion roubles, which was by 1.3% less than last year. Under the current conditions, this is a good figure which proves that the industry is functioning at the level of the previous years,” the regional Department for Construction noted.
The region is gradually shifting to the work under the new legislation – now 281 construction projects out of the 947 which are being built at the cost of the co-owners are being erected with the use of escrow accounts.
Another important aspect of regulation of the market is reduction of the number of long-delayed construction sites. Last week it was announced that two frozen projects will be completed soon in Krasnodar: the Snow Queen and the Zhemchuzhina residential complexes, which will be erected at the cost of the regional Co-owners Defence Fund.
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