Application Review Timeline:
Application moderation: up to 5 working days
Total review period: up to 35 working days
Financing is provided for housing construction purposes, subject to the project’s compliance with the Integrated Territorial Development Standard for the following target purposes:
- Construction and installation works
- Architectural and technical supervision
- External utility networks, landscaping, and greening within the areas allocated for the integrated development project
The Integrated Territorial Development Standard is a methodological document titled “Integrated Territorial Development Standard (including housing construction assessment criteria),” approved by the decision of the Board of Directors of the “Kazakhstan Housing Company” JSC dated February 24, 2022 (Minutes No. 14).
Project Requirements:
- Compliance with the Integrated Territorial Development Standard approved by the authorized body of the Unified Operator, and with the Detailed Planning Project
- Availability of a master plan for the project
- Implementation period for the integrated development project: up to 36 months
- Total construction area: at least 10,000 m²
Financing Conditions:
- Product: Financing of integrated development projects
- Type of financing: Credit line
- Currency: Tenge
- Interest rate: 12.6%
- Collateral: Real estate
- APR (Annual Percentage Rate): Calculated individually after approval of the rate by the authorized body of Kazakhstan Housing Company JSC
- Credit line term: Up to 36 months
- Credit line availability period: Up to 18 months
- Loan term: Up to 36 months, but not exceeding the term of the credit line
- Credit line amount:
– Minimum: 100,000,000 tenge
– Maximum: up to 30% of the project cost according to the design and estimate documentation (DED)
Grace Period:
- Principal repayment: up to 18 months
- Interest repayment: up to 12 months
Collateral: Real estate
Participant Requirements:
Main Requirements for the Developer:
- Proven track record of successful project implementation within the past 3 years
- Financial stability
Main Requirements for the Authorized Company:
- Land plot (owned or leased)
- Design and estimate documentation (including for utility networks) with a positive expert opinion
- Availability of a guarantee from Kazakhstan Housing Company JSC or permission from the local executive body (Akimat) to raise equity holder funds
- Commitment to sell apartments at a fixed price
Borrower’s Counter Obligations:
The borrower is obliged to sell a portion of the housing to Kazakhstan Housing Company JSC in proportion to the company’s share in the financed project within the integrated development area, at fixed prices.
The area of housing offered at a fixed price is calculated using the following formula:
5. X = (C / P) × S
Where:
X — Area of housing offered at a fixed price
C — Credit line amount
P — Cost of the facilities according to the design and estimate documentation
S — Total apartment area according to the design and estimate documentation
Financing Procedure:
- Signing of a project agreement for the financing of the integrated development project
- Signing of an agreement to open a credit line for financing the project facility within the integrated development area
- Signing of the loan agreement and collateral agreements under the credit line agreement for the financing of the facility within the integrated development area
