Agreement on building economy-class housing complexes signed in Dagestan

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Makhachkala, February 18, 2015. Four agreements on financing construction of communal infrastructure for a number of economy-class neighborhoods in Dagestani cities have been signed in the republic, a source in the ministry of construction, architecture and housing reported RIA Dagestan.

One of the agreements provides 40 million rubles fr om the republican budget for building infrastructure in the Yuzhny neighborhood in Makhachkala. Dagyugstroi JSC is supposed to build more than 100,000 square meters of economy-class housing.

"We plan to reduce the cost per square meter of housing down to 16,000 rubles through the budget funds that will finance building the entire infrastructure," the source specified.

They will also provide finances for building engineering infrastructure in Kaspiysk wh ere the local authorities plan to increase affordable housing up to 1 million square meters, which will be of good quality and price range.

Earlier, the ministry of construction had selected and approved two applications for building economy-class housing under the "Housing for Russian families" program.

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