Funds in escrow accounts under equity construction contracts increase nearly 1.5 times over month to exceed 100 billion rubles
All project finance indicators in equity construction, which include the number and total amount of loan contracts, the number of escrow accounts and the amount of funds therein, demonstrated stable growth in November 2019. These findings are based on the results of the surveys in the banks authorised to open developers’ payment accounts and escrow accounts.
Over the period from 28 October to 2 December 2019, the number of escrow accounts significantly rose (by nearly 10 thousand, or more than 40%). As of 2 December, it exceeded 33 thousand. Equity construction participants’ funds in escrow accounts increased almost 1.5 times to total more than 107 billion rubles.
The credit limit under 653 loan contracts between banks and developers was higher than 796 billion rubles.