Donetsk, Jan 3 — DAN. Six Russian developers are willing to take part in new housing construction in the Donetsk People’s Republic under the preferential mortgage program, DPR government chairman Vitaly Khotsenko said.

Earlier reports on Tuesday said that the Russian government had approved the preferential mortgage program for the DPR, LPR and Zaporozhye and Kherson regions. A preferential mortgage loan to buy or build a home will be available at a rate of 2 percent in these regions. The maximum sum of the loan is six million rubles with initial installment of at least 10 percent.

“We’ve assessed the need for living space as part of Russian Deputy Prime Minister (Marat) Khusnullin’s instructions to implement the preferential mortgage program, ” Khotsenko said. “Six big Russian developers have expressed their readiness to take part in building new housing and social infrastructure. The talks are ongoing.”

Mariupol authorities have already designated the locations for building apartment houses and an area for the construction of single-family homes has been allocated in the Novoazovsk district. The construction of the first buildings under the preferential mortgage program will begin this year.

On December 15, 2022, Russian President Vladimir Putin brought forward the initiative to provide mortgage loans at a rate of 2 percent to residents of the four new regions for buying new housing.*jk