Key handover began in Krasnodar for the former long-term construction residential complex 'Kino'

Apartments in the second phase buildings of the residential complex will be received by 580 families who have been waiting for construction completion for more than 9 years.
Key handover for the second phase of the "Kino" residential complex has begun in Krasnodar, which was one of the largest long-term construction projects in Krasnodar Territory. On July 23, permission was obtained to commission the buildings as part of the final construction phase. In total, 1,087 families were waiting for apartments in the residential complex.
Initially, the facility was planned to be commissioned in 2017, but the previous developer declared a lack of funds, and the "Kino" residential complex received the status of a long-term construction project. In 2021, AVA Group holding took on the obligations to complete construction, acting as investor and general contractor. As a result, the first phase of the residential complex was commissioned in 2024.
On August 15, keys were ceremoniously presented to the first residents of the second phase of the complex, with the main key handover beginning on August 18. At the ceremonial event, new residents were congratulated by representatives of the Krasnodar Territory administration, Krasnodar, the Investigative Committee of the Russian Federation for Krasnodar Territory, the general contractor, the regional prosecutor's office, and the media.
"Completing the construction of the 'Kino' residential complex is a project to restore social justice. This is exactly the task I set for the team when making the decision in 2021 to participate in completing the construction of this problematic facility. Today, this is an example that even the most complex situations in the construction industry can be resolved with a responsible approach from all process participants," commented AVA Group General Director Vagan Arutyunyan.
The investor made changes to the residential complex concept, taking into account new current requirements for residential areas. Now the "Kino" residential complex is a modern complex equipped with everything necessary for comfortable living.
"All these years we lived with the motto: 'Move only forward!' - it was this that helped us not to give up. 1,087 equity holders, uniting as one family, achieved their goal. And here it is, our long-awaited home. Exactly as we imagined: bright, light, thought out to the smallest detail. And most importantly - ours. The multi-level parking with underground and above-ground levels near the buildings was especially impressive - they look very spacious! We thank the AVA developer and everyone involved for helping to complete the project. Now our 'burdens' are only pleasant chores of furnishing, we look confidently into the future and begin a new life stage in this area," noted equity holder Marina Blyagoz.
Federal developer AVA has built and commissioned more than 3 million sq.m. of real estate since 2007. Completing projects with deceived equity holders is part of AVA Group holding's sustainable development program. Over the years of operation, more than 2,000 families have been able to receive keys to their long-awaited apartments in residential complexes: "House on Dimitrova," Fresh, "Aurora," "Zelenodar," "Rich House," "Kino," "Marshal" in Krasnodar, and "Novorizhsky" residential complex in Moscow Region.