VGM Group Spółka

VGM Group Spółka
Native name
VGM Group Spółka z ograniczoną odpowiedzialnością
TypePrivate company
IndustryReal estate development
Construction
Founded2018
HeadquartersWarsaw, Poland
Area served
Poland, Belarus
Key peopleIlya Volakh (owner)
ProductsResidential developments
Websitevgm-group.pl

VGM Group Spółka sp. z o.o. (Full name VGM Group Spółka spółka z ograniczoną odpowiedzialnością, Złota 61 / 100, 00-819 Warszawa, Polska) is a Polish real estate development and construction company headquartered in Warsaw, Poland.[1] The company was founded in 2018 and has been associated with residential development projects in Poland and Belarus.

The company previously received criticism regarding regarding delays and legal disputes involving developments in Belarus.

History

VGM Group Spółka sp. z o.o. was founded in 2018 in Warsaw, Poland. While the company mainly operates in Poland, it has also been associated with projects in Belarus through entities connected to its ownership structure.

Projects

Belarus

Long term constructed complex "Grushevskij Posad". The third building. Sight from the 2nd Zemlemernaya street

Grushevsky Posad

Grushevsky Posad was a residential development in Minsk that began construction in 2011. The project operated under VGM Group subsidiary developer, Zhilstroykomplekt LLC.[2] The project experienced repeated delays and received criticism from the public.[2][3][4][5][6]

Long term constructed complex "Grushevskij Posad". The fourth building. Sight from the Shchorsa street

Trilogia

Trilogia is a residential development in Brest. Construction on the project similarly experienced multiple delays and changes in contractors.[7][8][9]

Karamel

Karamel is a residential development in Minsk. Construction delays prompted intervention by local authorities and restructuring of project management.[10][11][12][5]

"Vest towers" housing complex

Vest Towers

Vest Towers is a residential complex in Brest launched in 2019.[13]

Long term constructed "Park" housing complex

Park

Park is a residential development announced in Kobryn in 2018.[14]

VGM Group has been the subject of media criticism regarding construction delays, financing issues, and investigations involving companies associated with the company, particularly the bankruptcy of Zhilstroykomplekt LLC, related entities, and the subsidiary's lack of bond and interest payment.[2][15]

VGM Group subsidiary companies have been cited for construction code violations.[16] The development company was cited for engaging in construction practices that may have reduced the structural strength of the properties built. [17] The company was also under investigation for fraudulent bankruptcy of construction company.[18][19]

References

  1. ↑ "New investigation has been started against officials of developer of "Grushevskij Posad" into the fraud". realt.by (in Russian). Retrieved 2021-01-19.
  2. 1 2 3 ""We have no illusions anymore that construction will be finished". Why very little had been done to construct housing complex "Grushevskij Posad" in Minsk". realt.by (in Russian). Retrieved 2020-11-15.
  3. ↑ "Советы держателям облигаций проблемного "Жилстройкомплект" от Минфина". Белорусский партизан (in Russian). Retrieved 2021-01-09.
  4. ↑ Красовская, Оксана (2020-08-28). "Constructed since 2011. The story of another long-term residential complex, which, it seems, can not do without state developer - Недвижимость Onliner". Onliner (in Russian). Retrieved 2020-11-26.
  5. 1 2 "Помогать достраивать "Карамель" будет еще один генподрядчик, а на возведение "Грушевского посада" брошены все силы. Как поживают "долгострои" на проспекте Дзержинского". realt.by (in Russian). Retrieved 2020-11-15.
  6. ↑ "ЖК Грушевский Посад" (in Russian). Retrieved 2020-11-15.
  7. ↑ "В Бресте строится самый крупный в области жилой комплекс". TUT.BY (in Russian). 2018-10-19. Archived from the original on January 8, 2021. Retrieved 2020-12-23.
  8. ↑ "В Бресте строится самый крупный в области жилой комплекс (обновлено)". Брестская газета (in Russian). 2018-10-20. Retrieved 2020-12-23.
  9. ↑ "Как в Бресте вместо жилого комплекса "Трилогия" получилась "трилогия" судебная, или Поучительная история для инвесторов". Брестская газета (in Russian). 2019-12-28. Retrieved 2020-12-23.
  10. ↑ "Долгострой "Карамель" планируют сдать в I квартале 2021-го". Минск-Новости (in Russian). 15 December 2020. Retrieved 2020-12-18.
  11. ↑ "ЖК "Карамель" современный квартал у ст.м. Грушевка". realt.by (in Russian). Retrieved 2021-01-01.
  12. ↑ "ЖК "Карамель" - купить квартиру в новостройке от Жилстройкомплект, цены, планировки" (in Russian). Retrieved 2021-01-01.
  13. ↑ "Крупный застройщик рассказал о рисках покупки земли с аукциона и почему в регионах новостройки интересней, чем в Минске". realt.by (in Russian). Retrieved 2020-12-16.
  14. ↑ "На зависть Минску: в центре Кобрина построят квартал в стилистике французской Нормандии" (in Russian). 2018-10-24. Archived from the original on March 5, 2019. Retrieved 2021-01-02.
  15. ↑ "On non-performance of obligations under the bonds by the issuer of "Zhilstroykomplekt" LLC - The Ministry of Finance of the Republic of Belarus" (in Russian). Retrieved 2021-02-02.
  16. ↑ ""Будем перекрывать проспект Дзержинского, пока вы не выполните наши требования". Держатели облигаций "Грушевского посада" встретились с чиновниками и представителем застройщика". realt.by (in Russian). Retrieved 2020-11-15.
  17. ↑ "A criminal case has been opened against the former general contractor of Grushevsky Posad for bringing it to bankruptcy" (in Russian). 2020-07-09. Archived from the original on July 17, 2020. Retrieved 2020-11-26.
  18. ↑ "Минфин обязал "Жилстройкомплект" заменить обеспечение по облигациям". officelife.media (in Russian). Retrieved 2020-11-15.
  19. ↑ "ООО "Строительная компания Жилстройкомплект" - ИС ЕГРСБ" (in Russian). Retrieved 2020-11-15.
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