Escrow account balances in equity construction exceed 2.8 trillion rubles
6 December 2021
News
Project financing in equity housing construction continued to trend upwards in October 2021.
Funds in escrow accounts placed by equity construction participants totalled over 2.8 trillion rubles as of 1 November 2021. Moreover, 0.7 trillion rubles from escrow accounts under completed projects have already been transferred to developers or used to repay the loans they raised.
The overall limit under currently effective loan agreements concluded by banks and developers reached nearly 6 trillion rubles.
More details on financing trends in equity construction are available on the Bank of Russia website.
Preview photo: Goir / Shutterstock / Fotodom