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Russia - Developers cheated about half a million equity holders

Russia (bbabo.net), - About half a million equity holders have not been able to get their apartments on time for the entire existence of this problem. This figure was given at a press conference by the general director of the Fund for the Development of Territories (formerly the Fund for the Protection of the Rights of Citizens - Participants in Equity Construction) Konstantin Timofeev.

In general, the problems of 500-600 thousand deceived equity holders have been and are being solved in the country. Both the Fund and the regions are engaged in this. In 2021, the rights of about 42 thousand equity holders were restored. In total, over the past three years, the Fund's Supervisory Board has considered 1253 objects with 102.7 thousand affected citizens. Now 13.8 thousand people have already received housing (67 houses have been completed), 28.2 thousand have received compensation. The Fund will have to make decisions on another 224 houses. At the end of 2021, 1362 houses were under the control of the regions.

Compensation is paid for those houses that are too expensive or impossible to complete. This may be due to nearby airports, lack of insolation, lack of local area, the fact that the land is not intended for residential construction, Timofeev cited examples.

Russia - Developers cheated about half a million equity holders