"Samolet" sat next to "Chuche ideas"?

The Samolet group put its paw on a plot of land on Mosfilmovskaya in Moscow, where the Parus garage cooperative has been staying since Brezhnev's times. A month ago, Moscow Mayor Sergei Sobyanin announced plans to build this spot, The Moscow Post correspondent understood the plot.

The Samolet Project company, which is part of the Samolet group, held a tender to develop the site on 74-78 Mosfilmovskaya Street. Usually, such work is carried out if there are plans for further development of the territory, in our case extremely tasty for Moscow.

Nearby is the embassy city with representative offices of 16 countries, and the closest to the site is the embassy of the country of ideas of the DPRK Chuche - Mosfilmovskaya street, house 72.

Co-op for demolition

Today, this site is given to the Parus garage-building cooperative (GSK), which has been based there since the time of developed socialism (1977). There has long been controversy over this stain - the fact is that the members of the GSK (owners of garages) are not the owners of the land, which, as a general rule, remains the property of the state and the municipality. Thanks to this, the authorities can decide on the liquidation of the GSK and the transfer of land for other needs.

The Moscow government exactly on June 5, 2024 decided on the integrated development of the territory in Ramenki at Mosfilmovskaya 74-78. We are talking about 2.94 hectares, on which, of course, a "modern residential area" will appear. Moscow Mayor Sergei Sobyanin also promised to build a school for 200 students and a kindergarten for 100 children, and the fat piece itself seems to have already been given to Samolet.

Interestingly, the head of the "Samolet Project" is Lilia Fedotova, who before that was the design director of the "Samolet" group. Now her patrimony is formalized by the head PJSC in a separate structure.

"Samolet" by Andrey Vorobyov

Obtaining this plot on Mosfilmovskaya may be part of offsets - a month ago, the Samolet group decided to part with 12 land plots in the Filimonkovskoye settlement in New Moscow, which will soon be transferred to the new owner at a tender.

Samolet is the fastest growing company on the market and is related to the brother of the governor of the neighboring Moscow region, Maxim Vorobyov, who was a co-owner of one of the Samolet group companies.

Maxim Vorobyov. Photo: https://www.forbes.ru/milliardery/441465-kak-brat-gubernatora-podmoskov-a-zarabotal-sostoanie-v-550-mln

The Vorobyov brothers have a good relationship that allows them to resolve many issues, including the exchange of contracts between the business of Moscow and the Moscow region. This scheme has already been worked out within the framework of the company Specialized Developer RM-1, and now it is being continued on Mosfilmovskaya.

The organization is constantly buying up new assets, be it stains for development or just competing companies. In 2023, Samolet seriously strengthened its portfolio in Moscow. Naturally, this organization, through Vorobyov, can coordinate any issues with both the Moscow mayor's office and federal structures - recall that Marat Khusnullin, a native of Sobyanin's team, has been the profile deputy prime minister for construction issues since 2020. Thanks to Khusnullin, Sobyanin's approaches are now scaled across the country.

Financial bubble "Samolet"

The main problem of "Samolet" is the unstable financial situation - the company has been buying up assets and inflating debts for many years. The entire business structure is based on borrowed funds that the organization receives from friendly banks. For the sake of increasing capitalization and keeping the organization afloat, Samolet has planned an IPO, which should take place before the end of 2025.

"Samolet" needs funds in order to buy and take control of regular projects, because of this, the business is more and more like a soap bubble. The cost of servicing debts is growing, prices for construction materials are also not lagging behind inflation, so the abolition of the basic preferential mortgage ("State Support 2020") and the growth of the key rate, which in the near future, judging by the rhetoric of the Central Bank, will continue, threaten collapse.

Photo: Sergei Sobyanin: https://tass.ru/obschestvo/9193245

Since 2020, the modern Russian housing market has been built around preferential mortgages, according to which the state financed part of the cost of housing loans. The program worked only in relation to new real estate objects, which is why prices for primary housing today are 20 percent higher than secondary housing, or even more, this is an artificial market anomaly that comes to an end.

The cancellation of "State Support 2020" will narrow the number of mortgage borrowers, as a result of which many apartments will remain unsold. And here a question arises for Samolet and other such construction companies, and how will they service borrowed funds taken for the construction of houses and the purchase of related enterprises?

Some of the players will somehow survive the crisis, and some will face insurmountable difficulties, and this primarily applies to the most credited developers, such as Samolet. It's not just that this structure decided on an IPO - soon it will need a lot of money, but where to get it if the apartments are selling poorly? That's right, by selling off stocks.

Gluttonous "Samolet"

However, born to eat, he cannot starve, so the "Samolet", following the developed instincts, is trying to take control of more and more objects, such as a piece of land on Mosfilmovskaya near the North Korean embassy.

This is probably due to the people behind the developer, they are definitely not used to moderating their appetite. In addition to the brother of the Moscow governor Maxim Vorobyov, the official dollar multimillionaire, this is, for example, God Nisanov, who is a veteran of the Moscow construction market and the beneficiary of the developer Kievskaya Ploshchad.

Nisanov currently holds the post of assistant to Andrei Vorobyov on a voluntary basis and at the same time is listed as a minority shareholder of Samolet, he clearly did not come to the organization in order to sequester the business and correlate the debit with the loan.

God Nisanov. Photo: https://newslab.ru/info/dossier/nisanov-god-semenovich

Developer Ilgar Hajiyev claims, firstly, that Nisanov's structures raided his business, and secondly, that construction tenders in Moscow are distributed corruptly in favor of Nisanov. We cannot verify this, but this statement hints at a dense failure between the construction players of Moscow and the Moscow region, up to their complete mixing. The difference between them lies only in who is responsible for which object, and who earns more where.

On the one hand, the Vorobyov brothers, who control everything in the Moscow region, and on the other, Nisanov, who has tsarist influence in the capital. And Andrei Vorobyov and Sergei Sobyanin will easily find a common language as two "statesmen", which is a sin to conceal.

Only it is unclear in what here today a business component. The housing market is if not on the eve of a collapse, then, at least, long stagnation that for builders is equivalent. Why on this background to inflate also so inflated portfolios and budgets? And if there is a crisis, what then? However, the answer to surfaces, all losses in case of bankruptcies will be written off for the state. Really it is also the main idea of data of monstrous movements?

The main is that at the negative scenario dozens can hang, and that hundreds of houses across all Russia with shareholders who invested the last money there. A social problem, and in Moscow for some reason pretend that business.