[NEWS] Already started new buildings will be handed over without strong delays

Strong and massive delays in the commissioning of new buildings already under construction in Russia, despite the crisis. This was stated in the NEWS.ru podcast by Nikita Zhuravlev, ex-employee of the construction companies Leader Invest, Mirax Group and Pioneer.

Today’s projects, which have already started and are on the way, nothing will happen to them. What does it take to get a building going? There should be no funding. In 2008-2014, the developer had to raise money for the construction, and if his sales fell and the construction got up, today he has a lot of money.

All residential complexes have project financing (loans from banks. – NEWS.ru), Zhuravlev said. He notes that building materials and finishing materials are purchased in advance, and developers have now flown to China for elevators. In the future, there may be problems with components for construction equipment, but, the expert expects, they will be imported from Turkey.

Of the facilities already under construction, 15-20% will traditionally be delayed for three to six months, Zhuravlev believes. But what will happen to new, not yet launched facilities and how European technologies will be replaced in them is unknown, the analyst says.