Features of project financing of investment and construction projects of housing real estate: problems, risks, forecast
Project finance in the early 1970s It began as targeted lending to the borrower for the implementation of the investment and construction project (ISP) without turnover (recourse) or with limited recourse of the lender to the borrower. The security of the borrower's payment obligations was mainly cash income generated by the asset and assets related to investment activities. Currently, project financing acts as a way of mobilizing various sources and methods of financing specific COIs with the optimal distribution of financial risks among the main participants in the project. The issues of financing investment construction projects in the modern market economy of Russia are key. When financing COI, a number of the following conditions must be met: a change in the size of investment investments should ensure the implementation of a housing real estate project in accordance with time constraints and financial risks; reducing the cost of financial resources by introducing certain restrictive measures (tax benefits, guarantees, various forms of participation, etc.) and measures related to the management of regional risks. As you know, the process of financing COI includes the following stages: determining the feasibility of the project at the cost of the planned profit (preliminary study of the viability of the project); risk assessment, resource support, financial stability, etc .; assessment and selection of one of the effective forms of financing; monitoring the implementation of the plan and the conditions for financing the project [1].