Kazakhstan Housing Company JSC (Single Operator) hereby informs as follows.

On November 26, 2021, the contract for the provision of guarantee No. ДПГ-21-06-042/095 was concluded with Атырау Ж.Б.И.-2005 LLP and MBS Capital LLP for project “Construction of four 9-storey residential buildings in microdistrict Nursaya in Atyrau”. According to the Contract, the deadline for putting the Facility into operation is no later than September 1, 2022.

In accordance with subparagraph 1) paragraph 3, Article 37 of the Law of the Republic of Kazakhstan “On Co-Funding of Housing Construction”, in case of guarantee event, the Single operator shall within three business days make a decision on recognition of guarantee event in case of violation of deadline for commissioning of an apartment building. It is allowed to extend the construction period three times for three months each from the period specified in the design (design and estimate) documentation of the construction facility.

Moreover, based on requests of MBS Capital LLP, the Single Operator approved the extension of the construction period three times (from September 1, 2022 to June 1, 2023).
To date, construction and installation work at the Facility has not been completed and the Facility is not ready for commissioning.

In order to complete the construction of an apartment building and fulfill obligations to shared construction participants under agreement for provision of a guarantee of co-funding of housing construction, Kazakhstan Housing Company JSC announces the realization of guarantee event for facility “Construction of four 9-storey residential buildings in microdistrict Nursaya in Atyrau”.

Kazakhstan Housing Company JSC will proceed to appropriate measures to resume and complete the construction of the Facility as soon as possible.