In Dagestan, the number of new housing projects launched in the first half of 2024 is twice as high compared to the same period last year thanks to the program of subsidized project financing implemented by DOM.RF.

The cluster program was launched in October 2023 to encourage housing construction in areas with a shortage of supply. Under this program, DOM.RF reduces the interest rate on project financing for developers by a maximum of 5.5%, at its own expense. The discount is available for projects that start construction in 2023 and 2024.

In total, the program has launched new housing projects covering more than 2.4 million square meters in 28 regions, Vitaly Mutko director general of the DOM.RF said. “The program has proven to be a timely and effective measure of support. Thanks to this program, the volume of housing construction in several regions increased by an average of 85% in the first half of 2024 compared to the same period last year” – Mutko is quoted as saying.

Besides, under the program Dagestan developers who build better quality housing - including energy efficient and meeting certain criteria of "green" GOST R for apartment buildings, can receive an additional discount of up to 2%. The program operates in 61 regions. In addition to Dagestan, it is most actively used in the Bryansk and Pskov regions, as well as in North Ossetia.