General information

As part of the implementation of investment projects, the Unified Housing Construction Operator (hereinafter referred to as the Unified Operator) provides financing for urban investment projects and financing of complex development of territories in accordance with internal regulatory documents.

An urban development investment project is an integrated development project, which provides for the construction of multifunctional residential areas with developed infrastructure and meets the standards of integrated development. Such a project provides not only for the construction of residential complexes, but also for the construction or availability of social and commercial infrastructure facilities and is aimed at creating comfortable living conditions for the population.

Financing of urban development investment projects is carried out in accordance with their Standard of integrated development of territories* for the following purposes:

-construction of facilities on the territory of complex development according to design and estimate documentation on the territory of the Republic of Kazakhstan (including construction and installation works, author’s and technical supervision) and in accordance with the approved detailed planning plan;

-construction of facilities on the territory of complex development in accordance with the standard of complex development of territories.

*The standard of integrated development of territories is a methodological document “The standard of integrated development of territories (including a draft design)”, approved by the decision of the Board of the Joint Stock Company “Kazakhstan Housing Company” dated February 24, 2022 (Protocol No. 14).

THE STANDARD OF INTEGRATED DEVELOPMENT OF TERRITORIES

The term of financing (crediting) is established by the authorized body of the Unified Operator in accordance with internal regulatory documents.

The remuneration rate (including mixed) is determined by the decision of the authorized body of the Single Operator in accordance with the internal regulatory document providing for the procedure for calculating the cost of products of the Single Operator.

The town-planning investment project of complex development can be carried out by the developer and his authorized companies.

A single operator finances authorized companies that act as the main borrower. The developer acts as a co-borrower. Other persons may participate in the implementation of the project, who may act as pledgers and/or guarantors.

Definitions and roles of project participants:

• Unified Housing Construction Operator (Unified Operator) – Joint Stock Company “Kazakhstan Housing Company”/Company;
• Developer – a legal entity engaged in the organization of housing construction of apartment buildings at the expense of its own and (or) attracted money through participation in the authorized capital of an authorized company;
• Authorized company – a legal entity, one hundred percent of the voting shares (participation shares in the authorized capital) of which belong to the developer, carrying out activities for the construction of an apartment building, and in case of involvement of shareholders, carrying out activities to ensure the shared construction of an apartment building and the sale of shares in an apartment building and complies with the requirements of the legislation of the Republic of Kazakhstan on shared participation in housing construction;
• Agreement on the opening of a credit line (hereinafter referred to as AOCL) – an agreement between the Company and the borrower / co–borrower / mortgagor /guarantor on the provision of a credit line to the latter on terms that allow the borrower / co-borrower to determine the time and amount of the loan, but within the limits set in the agreement;
• Loan agreement – an agreement of the established form concluded between the Company and the borrower/co-borrower/mortgagor/guarantor, regulating the terms and procedure for granting and repayment of the loan within the framework of the AOCL;
• The borrower is an authorized company that receives a loan as part of financing by a Single project Operator;
• A co–borrower is a developer who signs a loan agreement / pledge agreement together with the borrower, and acts under the agreement as a joint debtor for fulfilling obligations to repay the loan received and full payment of the funds received, including remuneration and other payments on the loan. It is allowed to involve as a co-borrower another legal entity or individual that meets the requirements of the internal regulatory documents of the Single Operator;
• Mortgagor – an authorized company and (or) developer, as well as any natural or legal person who signs a loan agreement /pledge agreement together with the borrower/co-borrower and provides collateral for property /property rights to ensure the fulfillment of the obligations of the borrower /co-borrower under the loan agreement;
• Guarantor – a legal entity and (or) an individual who signs a loan agreement /pledge agreement together with the borrower /co-borrower, and guarantees the fulfillment of obligations to return the money received and full payment of the loan/ loan received, including remuneration and other payments on the loan.