Requirements for entering into a renovation agreement

The  Developer must:

• have at least two years ' experience in the construction of multi-apartment residential buildings, including as a customer, contractor (general contractor) in aggregate, не менее двух летwith a total area of at least ten thousand square meters during construction in cities of national significance, the capital, and at least five thousand square meters during construction in other administrative-territorial units;
• own assets of at least 10% of total assets for the last 2 years (according to the audited financial statements);
• observe the loan-to-equity ratio of no more than 7 throughout the entire construction period until the house is put into operation.

The object of renovation should be a multi-family residential building and / or an individual residential building with a land plot included in the housing renovation program.

An Authorized company must have:

• money in the amount equivalent to the cost of housing that will be transferred to the owners of the renovation object and (or) immovable property included in the renovation object, but not less than 30% of the declared project cost, as well as for the provision of temporary housing to the owners of the renovation object and (or) immovable property included in the renovation object, in the amount defined by the procedure for providing temporary housing and (or) compensation payments to the owners of the renovation object and (or) real estate included in the renovation object, taking into account the extension of the construction period;
• money to pay the commission fee for reviewing documents, the guarantee fee under the contract for providing a guarantee within the framework of renovation.

Project expertise

Expertise of multi-family residential building construction projects is carried out to check the Developer and Authorized company for compliance with legal requirements and includes financial and legal assessment.

Financial assessment

As part of the financial assessment, the following factors are analyzed:

• financial condition of the Developer and Authorized company;
• sources and sufficiency of project financing;
• pricing policy for the project;
• validity of the indicative construction cost, according to the indicative financing plan.

Legal assessment

Legal assessment includes:

• review of title documents of the Developer or Authorized company;
• review of corporate governance documents, decisions of collegial management bodies and basic powers of attorney of the Authorized company;
• analysis of title documents for the property of an Authorized company that is supposed to be transferred to trust management;
• analysis of the legality of forming the Authorized capital of the Authorized company, information about participants (shareholders) , information about affiliates of the Authorized company;
• verification of the existence or absence of legal proceedings of a property nature against the Developer and the Authorized company;
• checking the presence (absence) of tax arrears and other mandatory payments to the budget.

In case of a positive decision, Kazakhstan Housing Company JSC, the Developer and the Authorized company conclude a renovation agreement on the terms of providing a guarantee of equity participation in housing construction within the framework of renovation.

Within the framework of the renovation agreement, the Developer and the Authorized company negotiate with residents of unsafe and dilapidated housing in order to conclude an electronic agreement within the framework of the renovation project with the owners of renovation objects in a form approved by the Single Operator.

Upon approval, all owners, the Developer and the Authorized company sign an electronic agreement on providing a guarantee of equity participation in housing construction within the framework of renovation in accordance with the standard form approved by the Authorized body, on the “Home Portal” information system of the Single Operator.