By the end of 2019 in Russia significantly increased the number of developers in respect of which creditors intend to file a bankruptcy petition. This list now includes 350 companies, which exceeds the figure of 2018 by 77%. This is stated in the research of the Rating Agency building complex (RASK), a review of which leads the newspaper “Kommersant”.
According to RUSK, these 350 companies are implementing 1,42 thousand projects with a total area of 9.9 million square meters, compared with the 2018 year, these indicators increased by 65% and 27%, respectively. As for developers who are already declared bankrupt, the total rose to 184 (22%) On their balance sheets is now 839 projects area of 4.5 million square meters (+45.7% and +12% respectively).
The study notes that the growth is in a difficult situation of developers considerably ahead of the dynamics of increasing the volume of housing being built. Analysts attribute this to the fact that problems often faced by small developers. Thus, the average volume of construction the developer of the bankrupt in 2019 amounted to 22.6 thousand square meters, 30 thousand square meters a year earlier, more than half of developers in the area of risk size of the portfolio is less than 10 thousand square meters.
The partner of the “neo Centre” Arina Matveeva connects the problems of developers from reform of the sphere of shared construction, in which the company can no longer attract the investors ‘ money directly. However, the head of RUSK Nikolay Alekseenko believes that to speak about the direct influence of this factor earlier because with the problems faced while projects launched before the reform. “But due to the reform of small developers have dramatically changed the plans for new projects, and due to the lack of financial cushion many of them are unable to cope with it,” acknowledged Alekseenko. According to his forecast, this year the number of bankruptcies of developers will remain at the same level as last year or reduced.
According to the head of the working group “United Russia” on protection of rights of investors Aleksander Jakubowski, the increase in the number of bankruptcies also occurred because of the actions of the regional authorities. “When the amount of the Federal Fund for the protection of investors reached 32 billion, many regions have realized that to come with the request to initiate the bankruptcy of troubled Builder is a real chance to clear the history of protracted,” – said Jakubowski.
The state-owned “House.Of the Russian Federation” (in its perimeter is the Fund for the protection of rights of investors) agreed that the bankruptcy of the developer now allows to restore the rights of shareholders. According to “the House.Of the Russian Federation” to the beginning of December 2019 to the problem treated 3.1 million homes from 1.1 thousand developers. The bankruptcy proceedings were begun in half the cases. However, according to the calculations RUSK, the share of the Fund in 2019, had only 18% of bankruptcies of developers, 30% of the cases the initiated procedures were themselves real estate investors, and 19% statement was filed by the contractors of the developer. Finally, an independent decision to withdraw from the market took only 5% of companies.
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