The collapse of the Urban Group may lead to the restructuring of the entire housing market

Alexander Dolgin's pyramid may have far-reaching and sad consequences for developers in Moscow and the Moscow region, Khalil Aminov, a Kommersant observer, said.
The impending collapse of the Urban Group - one of the major housing developers in the suburbs - happened inappropriately for the governor of the region Andrei Vorobyov, who is preparing for another election of the head of the region. Against this background, another layer of dissatisfied electorate in the face of co-investors who bought apartments from Urban and who are at risk of remaining without housing will be an additional challenge for the politician. Probably, therefore, the authorities of the Moscow region immediately agreed to make money for the capitalization of the state-created Fund for the Protection of the Owners' Rights, which will now oversee the completion of the Urban facilities. By the way, the top managers of the company headed the association of developers of the Moscow region, which tried to work out new housing standards. And this is the sad end.

The owner of the company, Alexander Dolgin, in an interview with RBC on June 5 said that he was ready to sell for 1 ruble. His business, if he will not be claimed. According to his calculations, now about 16 billion rubles are needed for the completion of all the facilities. Where such a financial hole from the developer, who collected 80 billion rubles from the co-investors, did not clear up. Some experts believe that Urban pulled down the project "Laikovo", providing for the completion of the infamous SU-155 houses in the Moscow region of Odintsovo. But the developers with whom I discussed the situation, this argument surprises: the margin of Urban from each sold "square" - 10 thousand rubles. and, in theory, this would be enough to compensate for the losses of "Laikovo". At the same time, my interlocutors are sure: the Urban Group's problems will become a biker cord that will undermine the market. Many developers are now really afraid of the crisis of trust of buyers who think something like this:

If on the verge of collapse was a respectable Urban, then in any two clicks any developer could perish.

The situation with Urban has already led to the pedaling of the transition from shared construction to project financing, when up to 70% of the funds are given out by banks in the form of loans and strictly monitor their intended use: this may happen already next year. Developers are afraid: the new mechanism will lead to the death of private medium-sized companies. In fact, they simply will not have a source of free financing, which now is the money of co-investors. The negative effect of Urban will affect the market in the Moscow region, where an annual permit for construction of more than 5 million square meters. m of housing. Such volumes at current demand, which is lower than in Moscow, are already forcing Moscow developers to seriously cut prices. According to the classics of the development genre: dumping often leads to the construction of one large pyramid. And what if Urban is the same pebble that will lead to the fall of the pyramid being built?