MOSCOW, Nov 7 (PRIME) -- Russia needs to abolish shared equity construction with its schemes, President Vladimir Putin said on Wednesday, announcing a plan to discuss support measures for a market-based housing construction mechanism with the government.
“State support is important here, clear and transparent procedures are needed. The amount of this support and the means of rendering it to the industry must be clear. I hope I will have a serious conversation about this with the government. But I want you to know that it is this joint work what I intend to do,” Putin said.
Putin earlier signed a law abolishing shared equity housing construction agreements from July 2019 due to a large number of frauds and bankruptcies.
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