 Housing program involving 28 sites of the Group covering various regions of the Russian Federation has been carried out since 2004.
The objective is to retain young employees, skilled employees and those having rare jobs.
The program is implemented through a number of schemes:
- construction of new buildings;
- renting out;
- housing acquisition in the secondary market and selling it to an employee in the course of installment plan;
- interest-free loans provision;
- partial subsidies of the interest rate of real estate loan.
The company erected 18 new residential buildings, refurbished a hostel and constructed 231 apartments within the program of shared construction. All in all 1,458 flats were built. Besides, UMMC constructed 37 cottages and 54 objects are under building now.
Within the period from 2004 to 2010 UMMC invested RUR 3.2 bln. in to the housing program, where housing construction accounts for 75%.
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