Donetsk, Jul 24 — DAN. The Donetsk People’s Republic mortgage market’s housing construction plans reviewed by the authorities require a record high 90 billion rubles in investments, said DPR Acting Economic Development Minister Vladimir Zverkov.

“The implementation periods of housing construction projects range between 18 months and ten years; comprehensive development envisions the construction of more than one million square meters of housing and social infrastructure, ” Zverkov told the Donetsk News Agency.

The Investment Committee has already considered eight proposals; five of them have been granted the status of large investment projects, he said.

In mid-July, DPR Acting Head Denis Pushilin chaired a session of the regional Investment Committee which reviewed the construction of apartment buildings, a bread baking plant and wholesale/retail market. The authorities are ready to lease land to the developers without competitive building, and Pushilin urged local government bodies to provide maximum assistance to investors.

The Donetsk News Agency earlier reported that developers in Donetsk and Mariupol had submitted the first land lease applications and that housing construction was launched under a program of preferential mortgage loans. One of the developers plans to build a large neighborhood in Donetsk’s Kuibyshevsky district.*jk