"Housing and the urban environment" national project will be completed in 2026. According to the national project, the area of housing commissioned should increase to 120 million m2/year. The Presidential Council for Strategic Development and National Projects initially planned to implement the project in 2024.
As of today, a realistic target in 2020 is to commission 75-78 million m2 of housing by the end of the year, Deputy Prime Minister Marat Khusnullin said at a meeting of the Council. The objectives of the national project can be achieved earlier, but subject to the extension of the program of preferential mortgages. According to the results of six months, the area of commissioned housing decreased by 11 % YoY.
Following the meeting, the president instructed the government to prepare a draft decree on postponing the deadline for the implementation of all national projects from 2024 to 2030.
Due to government support measures, the construction industry was able to additionally attract RUB 1.44 trillion ($ 21.7 billion) in H1 2020 (up by 14 % YoY).
Support measures include the right of companies to apply for: the state subsidies, state guarantees for loans in the amount of up to 50 % of the loan amount, deferred payments and installment plans for the taxes and insurance premiums, and moratorium on bankruptcy proceedings until the end of 2020. The government also allocated funds for the purchase of finished housing from developers, for subsidizing mortgages and co-financing of infrastructure costs for building plots.
