ISSN (print) - 0131-7652

ISSN (online) - 2686-7605

Vol. 51 No. 4 (2021)
ASPECTS OF REAL ECONOMY

Did Property Developers benefit from the Housing Construction Financing Reform during the Pandemic?

PDF (Русский)
  • T. Cheremisina
T. Cheremisina
Institute of Economics and Industrial Engineering, SB RAS, National Research Novosibirsk State University, Novosibirsk
DOI: https://doi.org/10.30680/ECO0131-7652-2021-4-110-129

Published 2021-03-30

Keywords

  • Shareholder Participation Agreement,
  • ShPA,
  • shareholders,
  • housing finance reform,
  • project financing,
  • escrow accounts,
  • distribution of risks,
  • pandemic,
  • government suppor
    • ...More
    Less

How to Cite

1.
Cheremisina Т. Did Property Developers benefit from the Housing Construction Financing Reform during the Pandemic?. ECO [Internet]. 2021 Mar. 30 [cited 2025 Jul. 18];51(4):110-29. Available from: https://ecotrends.ru/index.php/eco/article/view/4228

Abstract

Over two years ago, the Government of the Russian Federation initiated a reform of financing housing construction. To prevent uncontrolled access to equity holders’ funds, in 2018, it launched a transition to a project financing model of housing construction using escrow accounts. The Russian model differs from the standard one only in some nuances. Although the transition to the new model was not completed by 2020, the coronavirus pandemic that has taken over the world has forced people to reconsider solutions to many problems, including those in the field of financing. The paper considers some reasons why the new system of financing housing construction is rejected by developers, as well as opportunities to balance the risks of all participants.
PDF (Русский)

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