Deripaska’s company revealed sales statistics “Olympic” apartment

For the Olympic games in Sochi in 2014, the company “Rogsibal” (enters in “Bazel” Oleg Deripaska) was built on the shore of the Black sea 2700 apartments that during competitions athletes lived. According to VEB, the budget of the project amounted to RUB 25.3 billion, of which 22.3 billion rubles. “Rogsibal” was held in Vnesheconombank.

Now the coastal Olympic village is a resort area “Imereti”. It consists of four quarters — Coastal, Marine and Protected Park. The apartments are sold in all four quarters, price per square meter varies from 152 to 195 thousand RUB. thousand RUB.

Since the start of sales in 2013 sold 20% of the apartments, said the representative of “basic element”, that is sold more than 500 apartments. The representative of “basic element” clarifies that in January—may 2016 the company sold 118 apartments. It is planned that by the end of the year will be sold 350 apartments in total area of over 25 000 sq. m.

Unsold apartments “Basel” leases. According to the company, for the summer season 2016 download of on rental is 97-100%.

Sales statistics worse than planned in “Bazel” in 2011. Then the General Director of “Rogsibal” Igor Evtushevsky told “Vedomosti” that 50% of the apartments are planned to be sold prior to the Olympics, and the remaining half in 2014-2015.

The representative of “basic element” says that to compare the current statistics with the 2011 plans incorrect. “The project has undergone a big change,” he explains. The company provide data of MACON Realty Group, according to which in January—may, 2016 in Sochi was signed 387 of transactions in residential real estate business and the elite class, that is, the share of transactions with apartments “Imereti” was 23%.

The government discusses the terms of restructuring of loans that VEB issued for the construction of Olympic facilities, told me earlier in the week sources . The Federal official explained that the structures of Deripaska the most difficult situation with the loans, as a great demand for apartments there.

Proceeds from the sale of housing in “Bazel” did not disclose. But the representative said that all sales goes completely to VEB to repay the loan and “Rogsibal” fulfills all obligations to the Bank.

If you consider that traditionally, the start of sales starts at the design stage and construction of the facility, the sale in the amount of 20% in the second year of input of object in operation can hardly be called satisfactory, says the Director of the Institute for innovations, infrastructure and investments Marina Udachina. In her opinion, this situation is partly due to the slowdown in economy and shrinking demand for luxury properties.

Problems with “Glavmosstroy”

On may 25 the Moscow Arbitration court has entered supervision procedure in controlled by the basic element of the construction company “Glavmosstroy”. In its press service among the causes of financial difficulties has called the extremely high-cost loans, a significant drop in demand for services construction contracts from corporate and government customers, no advance payments under a number of contracts, appreciation of materials and the lack of indexation for inflation under the executed contracts. Process monitoring will last until November 28.