Local authorities believe that up to 80% of the cost of any project must ensure that investors' funds, but it really is to organize the financing of development projects on a massive scale? This, they asked participants Christmas Summit guild control developers (SAA), which took place in Yekaterinburg. Today, the Russian real estate development is an urgent need for institutional investors, however, neither private companies nor banks are quite actively finance this sector until 2008, have been slow to invest in projects. The reason overcautious - echoes of the crisis. Many regard the slight rise of the market as a temporary respite, remission. Do not forget that nearly 300 financial institutions is now burdened with a load of non-core assets and debts totaling about $ 2 trillion rubles. The real estate market they are interested not only in terms of investment, but in terms of marketing the property. "Before the crisis, we have existed 500 so-called mortgage lenders, most of them focused on Retailing and mortgage lending - these are the real estate industry, banks are more or less well understood. And for a long time supplier of" long money "were foreign" daughter " but now in this sector is interested in Russia fell. today we have no more than 10 financial institutions that can borrow abroad, and about 50 who can work with projects worth more than one billion rubles. Government structures - HMLA and EBV - are willing to invest, but construction risks are entirely responsible for real estate developers, "- says Oleg Ivanov, vice president of the Association of Regional Banks of Russia. According to Faith Setskaya, chairman of the advisory council of the Guild of asset capitalization of financial institutions, foreign investors are reluctant to regions, preferring to buy ready-made objects in Moscow and St. Petersburg. But Russian only interested in commercial and warehouse projects, and trying in every possible way to minimize risks. "It is true that loans are not given. Give, but on such conditions as projects become unprofitable. To get good money for a normal rate, you need to put on the table not only structured, well-designed project, but a lot of guarantees. Banks are asked to submit preliminary agreements with potential tenants, professional management company, the end customer - the specialized foreign fund, for example. On the one hand, it is less, on the other - plus, because we go to the quality of the market and cease to fund the trash, "- she said. According to Oleg Ivanov, in the next 1.5 years the value of the dollar and the euro will rise, inflation will likely exceed 8%, which means we can expect significant spending of the federal budget. It is understandable that Russian banks in such circumstances would be very cautious to take on long-term financing of projects. Little hope of foreign investors, experts do not place too: while the cost of capital is low, interest in the Russian market is unlikely to return. For venture capital funds and business angels Development maloprivlekatelen because of their financial capacity and neunifitsirovannosti. Discourages investment and excessive shtetl: almost every major city in the Russian Federation - has its own "kitchen", regarding the approvals for the construction and the cost per square meter. Mr. Ivanov advises builders not to despair and to use the now fashionable topic of energy efficiency. With the help of local banks can attract funds from foreign financial institutions for 5-7 years, and under energy-efficient can be understood entirely different in scope and costs of projects - from the installation of ventilation systems and heating systems to the installation of meters. Setskaya faith believes that it would be nice also to create a Russia-wide virtual platform for development projects. This would help to match supply and demand in the market, but also facilitate the choice of investors.
No comments:
Post a Comment