On November 15 this year, representatives of Kazakhstan Housing Company JSC (hereinafter – KHC, a subsidiary of Baiterek National Managing Holding JSC), headed by Deputy Chairman of the Board of KHC Islambek Kairbekov, met with developers of Kyzylorda at the site of the Akimat of Kyzylorda.

The participants of the meeting were presented with tools to support housing construction by the KHC: mechanisms for guaranteeing shared-equity housing construction, subsidizing loans from developers, financing the construction/purchase of housing for LEAs waiting lists (the mechanism for repurchasing state securities of LEAs), the purchase of rental housing (with the right to buy out for waiting lists) from private developers.

In his speech, Islambek Kairbekov noted that since 2021, Kyzylorda has subsidized loans from developers for 2 projects in the amount of 1.2 billion tenge with a total area of 7.1 thousand square meters.

In turn, representatives of the local executive body (hereinafter referred to as the LEAs) and banks shared information about the procedures implemented locally for issuing permits for construction and mortgage products.

As of today, there are no projects in the city with a guarantee of KHC and LEAs permit for the legitimate attraction of funds from shareholders. KHC representatives spoke about the automation of the application process, which will allow developers to apply for guarantees, subsidies or financing remotely through the Housing Portal.

At the meeting, Assel Nurzhanova, Deputy Director of the Department for Legal Entities, told in detail about the requirements for providing the KHC guarantee, the procedures for concluding all types of contracts, and the rules for applying for subsidies.

Since 2016, in order to protect the interests of shareholders, KHC has issued 243 guarantees for the completion of construction in the amount of 1,159 billion tenge. Since 2021, contracts totaling 31.2 billion tenge have been concluded within the framework of the mechanism for subsidizing loans from private developers. The volume of housing commissioning using KHC tools from 2009 to the present day has amounted to 13.8 million square meters.

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Kazakhstan Housing Company JSC
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