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Belarusian state-owned enterprises to construct housing in 2016

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April 22, 2016 19:35

State organisations and enterprises with the state’s share in the authorized capital over 50% have been ordered to build 250,000 sq. metres of housing in 2016. This regulation has been adopted in order to enhance investment activity of enterprises. As a result, demand for corporate loans may grow due to enterprises lacking funds for housing construction. Commissioned apartments will be distributed among the workers and serve as a leash to keep most valuable employees. The state will gradually reduce its role in the housing construction by state cutting funding for housing construction and restricting the list of those eligible for soft loans. Due to falling incomes, the population has limited opportunities to finance housing construction and the prices on the housing market will continue to fall. Meanwhile, state housing construction plans will gradually decrease.

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