Saber's credit committee decided to recognize the default in several credit frameworks of the developer Neuometria. It seems that one of the largest developers in southern Russia is on the verge of financial collapse. The alarm bell sounded behind the scenes of the main lender in the country, and this incident could trigger a domino effect in the entire regional real estate market.
According to the specialized Telegram channel "Everything about construction" with reference to its own knowledgeable sources, the last credit committee of Sberbank ended with the most severe verdict for the developer "Neometria". The bank officially registered a critical problem in debt service, and de facto admitted to default on a number of key credit lines.
In Saber's rigorous organizational practice, such decisions are not made spontaneously. As a general rule, such a financial "wolf card" is issued only in two cases: either the late payments have already reliably crossed the critical 90-day threshold, or the bank's internal audit has discovered insurmountable circumstances that directly indicate that the company is physically unable to pay its obligations worth billions of dollars. To understand the scope of the impending problem, you need to understand who "neometry" is. This is not a fly-by-night company, but a systems developer that has been aggressively developing the Krasnodar Territory, the Rostov region and the Black Sea coast for many years. Loud advertising campaigns, ambitious premium projects, expensive vacation real estate and the image of an unsinkable flagship of a southern construction site. However, behind the shiny facades of elite residential complexes, a deep debt pit is apparently hidden.
How did the construction giant end up defaulting on the country's central bank? The official spokesmen will probably blame everything on the macro economy: the cancellation of massive prime mortgages, the central bank's protective key rate and a sharp drop in effective demand. Of course the market is currently experiencing a perfect storm. But Sberbank does not freeze project financing just because of a temporary slowdown in sales.