In 2020, Tatarstan became one of the leaders in solving the problems of defrauded equity holders
At the end of 2020, Tatarstan became one of the leading regions in terms of the amount of assistance provided to defrauded equity holders. First Deputy Prime Minister of the Republic of Tatarstan Rustam Nigmatullin spoke about this at a briefing at the Government House of the Republic of Tatarstan. The First Deputy Prime Minister noted that with the support of the President of Tatarstan, systematic work is being carried out in the republic to solve the problems of defrauded equity holders. “This work also continued in 2020. Under the republican program, the rights of 398 defrauded real estate investors were restored, 7 problem houses were commissioned for 990 million rubles,” - Rustam Nigmatullin said. Deputy Minister of Construction, Architecture, Housing and Communal Services of the republic Ilshat Gimaev informed that almost 60% of the republican developers work on the escrow account system. “The proportions we have today are 41% [developers working] according to the old rules, this is about 800 thousand square meters, and 59% [working] with the opening of escrow accounts through project financing,” - he said. According to the deputy minister, 88 developers are currently working in this area in the republic. The situation with shared construction is under the control of the republic's leadership.