10/31/08
Construction industry
Ukrainian Construction Association Suggests Ways to Improve Ukrainian Construction Industry
By Katya Shtamburg, Nova Mova staff writer, from Internet sources.
The board of directors of the Ukrainian Construction Association (UCA) said that the country's leadership should take a number of measures to bring the construction industry out of crisis. The directors recommended consolidating the efforts of all construction companies and their associations regarding monetary policy.
The UCA wants the government to create a policy that will support the system of mortgage loans for construction. In particular, the association suggested enhancing the requirements for the coverage of risks on housing construction loans by property rights from 40 to 65 percent of their value, as is set for mortgage loans extended to the secondary market.
The UCA said that to overcome the crisis in the construction sector, the country first needs to stabilize the economic and political situation. Without these measures, they said, the situation will only get worse.
Government programs for construction of affordable housing, roads, bridges, hotels and entertainment infrastructure are under the threat of shutting down. Not only is this an obstacle to the country's overall development, but it may result in failure to create the required infrastructure for Ukraine to host the European Football Championship Euro 2012, which would force organizers to hold the tournament in another country.
The UCA includes 27 construction companies and connects over 200 companies working in various roles in Ukraine's real estate market.
The UCA wants the government to create a policy that will support the system of mortgage loans for construction. In particular, the association suggested enhancing the requirements for the coverage of risks on housing construction loans by property rights from 40 to 65 percent of their value, as is set for mortgage loans extended to the secondary market.
The UCA said that to overcome the crisis in the construction sector, the country first needs to stabilize the economic and political situation. Without these measures, they said, the situation will only get worse.
Government programs for construction of affordable housing, roads, bridges, hotels and entertainment infrastructure are under the threat of shutting down. Not only is this an obstacle to the country's overall development, but it may result in failure to create the required infrastructure for Ukraine to host the European Football Championship Euro 2012, which would force organizers to hold the tournament in another country.
The UCA includes 27 construction companies and connects over 200 companies working in various roles in Ukraine's real estate market.
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