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Kachkin & Partners at the round table “Shared construction in the Leningrad region: problems and solutions”
«Construction Weekly. Leningrad region» newspaper invited the representatives of St. Petersburg and Leningrad region public authorities, nonprofit partnerships and social organizations, financial institutes and law firms to participate in the round table on the issues of shared construction.
A number of topics important for housing construction development in the Leningrad region have been discussed during the event:
- «problem» addresses of the Leningrad region shared construction – examinations results, decisions, terms of performance;
- main reasons of regional unfinished construction project appearance;
- draft law «On support of the victimized participants of apartment houses shared construction on the territory of the Leningrad region»;
- how effective is the work of bodies of local self government offering assistance to deceived construction share holders?
- the latest amendments to the federal law № 294 signed by the President of the Russian Federation on 6 January 2013 about the housing shared construction – will the changes solve the share holders’ problems?
Round table participants also spoke on such significant aspects as other regions’ practical experience of solving this problem; the necessity of informing citizens concerning correct conduction at the building real estate market by the experts and the media; ways of minimizing the risks of participation in such projects for investors; potential opportunity of PPP mechanism application.
In his speech Andrey Kulakov, Real Estate and Investments Associate at Kachkin & Partners, drew attention to a number of the draft law imperfections. «At this moment it’s impossible to determine the adequacy of the land plot transferred into ownership of the investor entering into commitments of finishing the unfinished construction projects and his costs. Moreover, there is no indication of natural persons and legal entities in the category of victimized shared construction participants, obligations of unresidential premises in apartment houses transfer to which have been violated by unprincipled developers», supposes the expert.
PhD in Law
Partner
Head of Real Estate and Investments Practice
Attorney
PhD in Law
Partner
Head of Real Estate and Investments Practice
Attorney