Ill-reputed Noviy Grad might try to attract investments through partners, says Konstantin Bruner of Affordable Housing NGO

‘Noviy Grad (the developer) has been trying to enter the markets of small regional towns for a while now. This builder turned out to be dishonest: it took the money of people from Yekaterinburg and Berezovskiy but never put up any buildings. Aware of being quite infamous, Noviy Grad might now try to attract money through its partners, for example, Victoria SKK,’ Konstantin Bruner of Affordable Housing NGO said to UrBC relating to the recently advertised construction projects in Yekaterinburg’s satellite towns placed by Victoria SKK.

‘Noviy Grad specializes in low-rise apartment buildings, which is why it claims to offer affordable dwellings, but, as President Putin has said, housing should be made affordable not through construction of such ‘economy-class’ buildings but rather through use of not very expensive but good quality materials. Besides, the dwellings this developer offers are not very impressive in terms of quality, so I definitely wouldn’t recommend this company,’ Mr. Bruner noted.


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