Donetsk, Dec 5 — DAN. The construction of three apartment houses under the preferential mortgage program has begun in the Donetsk People’s Republic, said Russian Construction, Housing and Utilities Minister Irek Faizullin.
“The process has been launched, ” Faizullin told the Donetsk News Agency. “The construction of three houses is underway in the DPR where apartments can be purchased at preferential rates.”
The Construction and Finance Ministries are monitoring the implementation of the program. They hold regular meetings with the developers and bankers involved in the project to timely respond to challenges. Prior to launching the preferential mortgage housing project, the authorities had harmonize the local co-funded construction law with Russian norms, he said.
In December 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. The first such loan was extended to a Mariupol resident in September 2023. DPR Head Denis Pushilin said that more than 30,000 square meters of housing would be built in the Republic under the mortgage program within two years.*jk