One more delayed building of the Fon Company was put into operation in Kazan - the second house of the Molodezhny residential complex

In Kazan, another delayed construction of the bankrupt Fon company on Noksinsky hill was put into operation -the second house for 190 apartments of the Molodezhny residential complex. Ilsur Metshin, the Mayor of Kazan, congratulated investors with a new home. “In 2015, we came here for the first time, there were only piles around. We did not know where to start. Thanks to the support of Tatarstan President Rustam Minnikhanov. We did it jointly, though not immediately, but we did it. We wish you happiness in new built house”, - the Mayor wished the future new residents.

Construction of a 14-16-storey building on Noksinsky hill began in 2012 and stopped due to the bankruptcy of the developer-the Fon Company. Construction works resumed in the autumn of 2018. “Stroy” group of companies performed some of them, at the expense of investors, while Ak tash Company continued the construction of the building with the participation of the Republican Fund for support of equity holders, established in 2018. Financing of the completion of the house was carried out by providing the contractor – Ak tash Company-with a republican land plot of 28 thousand sq. m. at the 33rd Voenny Gorodok.

The three-section house has 190 apartments, total area is more than 11.6 thousand sq.m. 175 apartments in the house belong to investors. In addition, there are offices with an area of almost 837 sq. m.

The Mayor of Kazan Ilsur Metshin visited one of the apartments of the house and noted the high quality of construction. He also drew attention to the fact that the builders were able to save the trees near the house.

The Mayor of Kazan noted that the completion of the construction is a common victory. The head of the city promised that there would be no unscrupulous developers in Kazan. “Yes, there were negligent builders, but they have already been punished. Today there is Federal legislation on escrow accounts, now developers will not receive money until they complete the house”, - Ilsur Metshin said.

The Molodezhny residential complex, construction of which began in the 2010s, consists of five houses. In 2015, the fourth building of the residential complex with 231 apartments was put into operation, in December 2017 – the third with 112 apartments. In December of last year, the 20-storey first building of the Molodezhny was commissioned for 108 apartments – it was also completed by Ak tash Company. The fifth building with 323 apartments remains uncompleted in this residential complex, which is expected to be completed in the first half of 2021.

For information, the so-called first wave of defrauded homebuyers began in 2008. At that time, there were 75 challenging venues in Kazan. In 2014, the problem was resolved for most of the houses. However, in 2015, the city again faced the problem of defrauded homebuyers, by that time it was revealed that the developers had failed to fulfill their obligations to the investors of 30 buildings. Developers of challenging venues of the second wave were mainly the Svey and Fon companies. By the beginning of this year, the construction of 21 houses for 4408 apartments was completed, including last year it was possible to put into operation five houses for 976 apartments with an area of 53 thousand sq.m.

Second house of the Molodezhny residential complex became the first residential building of defrauded homebuyers commissioned this year. As of today, seven challenging venues of defrauded homebuyers remain uncompleted in the city. Their construction is expected to be completed in 2021.