Belarus govt sets 5% ceiling on profits of developers using cooperative housing schemes
<p> MINSK, Jul 2 - PrimePress. Belarus’ authorities have adopted a regulation, which sets a ceiling of 5% of the estimated cost of construction on the profits of developers, which use equity funding schemes to finance cooperative housing projects. </p> <p> </p> <p> The 5% ceiling on developers’ profits is stipulated in President Lukashenko’s ordinance #247 “On housing construction” of July 2, 2020. </p> <p> </p> <p> The ordinance says that the preferential right to build apartment buildings shall be granted to construction companies with their own technical base and specialists. </p> <p> </p> <p> As previously reported, in early 2019 Belarusian President Alexander Lukashenko voiced the idea of limiting the profitability of developers to 5%. In early 2020, state agencies concerned prepared a relevant presidential ordinance and forwarded the document for approval to the head of state. End </p> <p> </p>
2020-07-03
Primepress
MINSK, Jul 2 - PrimePress. Belarus’ authorities have adopted a regulation, which sets a ceiling of 5% of the estimated cost of construction on the profits of developers, which use equity funding schemes to finance cooperative housing projects.
The 5% ceiling on developers’ profits is stipulated in President Lukashenko’s ordinance #247 “On housing construction” of July 2, 2020.
The ordinance says that the preferential right to build apartment buildings shall be granted to construction companies with their own technical base and specialists.
As previously reported, in early 2019 Belarusian President Alexander Lukashenko voiced the idea of limiting the profitability of developers to 5%. In early 2020, state agencies concerned prepared a relevant presidential ordinance and forwarded the document for approval to the head of state. End