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1 October 2018

3.6 BLN RUBLES ARE INVESTED BY THE RESIDENT OF THE FREE PORT OF VLADIVOSTOK INTO THE FACILITY, WHICH IS UNIQUE FOR THE FAR EAST

In March 2018, the developer, LLC JV Stroitel, became a resident of the Free Port of Vladivostok, following which it commenced the active construction works on building the first skyscraper in the Far East a multifunctional complex Aquamarine.

In the beginning, the project had been implemented by the Russian company together the investor from Hong Kong, who hired the contractors in China. The designers of the required qualification level were found in Hong Kong.

According to the design, the residential complex represents a 44-storey building constructed of cast-in-place concrete, therefore, special attention was paid to the construction of the foundation: the house stands on the solid reinforced concrete slab 2.5 meters thick, and this slabs, in turn, rests on 118 piles, which are 1.5 meters in diameter. The works on the land plot started as far back as 2009 (during this period, deep drilling of bed rock had started) and continued without disruptions and delays up to 2012.

However, because of the discrepancies that had arisen between the Hong Kong partners and the Chinese contractors, at the end of 2012 the construction was suspended. In 2017, the conditions for termination of the contract on joint activity were finalized, the consent was reached, the documents were drawn up, and the partners split up. From that point on, the investors from Hong Kong are no longer involved in the project. Right now, only the Russian party is engaged in the construction.

From 2017, the developer has completed a large volume of work both in the office, and on the construction site. The authorized capital was increased from 26.1 mln. rubles to 150.94 mln. rubles. The residential complex Aquamarine was accredited in the following banks: VTB, PrimSocBank, Russian Capital Bank («Rossiysky capital») and «Svyaz Bank». As a developer, we have opened a transaction account in VTB Bank, which performs checking of the targeted use of the monetary funds by the share construction participants.

The works are carried out without attraction of borrowed funds, over 1.2 bln rubles are already allocated for construction. At the present moment, this is one of the most active construction sites in Vladivostok: about 250 workers are involved here every day. From August 2017, 29 floors have been constructed: whereas before the construction recommencement the developer completed only nine floors, right now the works are being carried out on the 38th floor already. It is planned to complete the construction of the cast-in-place concrete frame in November of 2018 and then start the construction of the façade and filling of the beach (the 2nd stage of the Aquamarine residential complex project). It is planned to complete the construction of the house in the 2nd quarter of 2020.

«Obtaining the status of the FPV resident, on the one hand, enables us to use the tax preferences provided for the residents, which allows us to reduce the budget of the construction relative to these budget items and allocate more funds for improvement of the public zones and the territory of the complex. On the other hand, it obligates us to take a more responsible approach to construction, because our activity in such a case is controlled not only by the Inspectorate of the Regional Construction Supervision and Control in the Sphere of Shared-Equity Construction in Primorsky region, but also by the Far East Development Corporation», — comments Margarita Nikolaeva, Deputy General Director of LLC JV «Stroitel».

At the present time, about 10 developers carry out construction of the multi-apartment buildings in Vladivostok, several residential houses have been already commissioned – residential complex «Zelyoniy Ugol», the first houses of the residential complex «Nadezhdinskoye Polesie», residential complex «Premiere». As noted by the developers, the measures of state support on the territory of the Free Port of Vladivostok are really attractive for the investors, although some points require follow-on revision.

From the date of entry into force of the federal law, 905 investors received the status of the Vladivostok Free Port residents; their projects are estimated in the amount of about 530 bln rubles and are aimed at creation of 53,600 new jobs. Out of them, 82 projects have been already launched.