The Russian government just approved the use of new financing facilities with bonds issued through DOM.RF. DOM.RF is Russia’s housing and urban development corporation, established in 1997 by a decree of the Russian government to promote the development of the housing sector.
The proposed infrastructure bond was estimated to be around USD 32 million and would be used to build a school and a kindergarten in the city of Gubkinsky, Yamalo-Nenets Autonomous District.
The proposal was for the school to cater up to 400 students and the kindergarten would be able to cater up to 240 students. The project was estimated to be completed and operational by the end of 2024.
The infrastructure bond is part of the government’s plan to resettle more than 1,000 families that are living in emergency housing in Yamal, to a new district in Gubkinsky. The new district would be planned and constructed so that the residents could access most amenities by walking.
The masterplan called for the construction of more than 50,000 square metres of housing. The residential units would be handed over in three phases. The first residential unit was scheduled to be completed in the fourth quarter of 2022.
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