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Rauf Chakaev: Slump in performance of Penza construction complex still continues

16:56 | 26.10.2017 | Economy

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Penza, 26 October 2017. PenzaNews. Slump in performance of Penza region's construction complex still continues, gradual increase in commissioning is expected in 2018. This was reported by the first deputy minister of economy of the Penza region Rauf Chakaev.

Rauf Chakaev: Slump in performance of Penza construction complex still continues

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"In 2017, the fall continues in the construction complex and as a result of the year it is expected that the volume of construction works will amount to 31.3 million roubles, which makes up 90% of the 2016 level," he said during a meeting in the Penza region government on Thursday, October 26.

According to Rauf Chakaev, the main driver for construction in the future will remain housing construction.

"It is forecast that in 2017 the same volume of housing commissioning will be achieved as in 2016 – 790,000 square metres," the speaker specified.

The first deputy minister noted that mortgage lending plays an important role.

"This year there has been a positive trend with a simultaneous decline in bank rates," Rauf Chakaev said noting that it had a favourable impact on the availability of housing and contributes to development of the industry.

"The commissioning is expected to increase gradually: in 2018 – up to 900,000 square metres, by 2020 – up to 950,000 square metres," he summed up.

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