Warranty requirements

In order to carry out activities on the organization of equity participation in housing construction by obtaining a guarantee from JSC "Kazakhstan Housing Company", the developer must comply with the following requirements:

• have experience in the construction of multi-apartment buildings, including as a customer, contractor (general contractor) in aggregate, for at least 3 years, with a total area of at least 18,000 sq.m. during construction in cities of republican significance, the capital and at least 9,000 sq.m. during construction in other administrative-territorial units;
• have assets remaining after deduction of short-term and long-term liabilities for the last two financial years according to its financial statements, confirmed by the auditor's report;
• the value of the coefficient calculated by the ratio of debt and equity capital should not exceed seven during the entire period of construction of an apartment building before its commissioning.

In order to carry out activities for the organization of equity participation in housing construction by obtaining a guarantee from JSC "Kazakhstan Housing Company", the developer creates an authorized company or acquires 100% of voting shares (participation shares in the authorized capital) of another legal entity to carry out activities for no more than one multi-apartment building construction project.

In order to organize equity participation in housing construction by obtaining a guarantee from JSC "Kazakhstan Housing Company", an authorized company must have: 

• a land plot belonging to the right of temporary paid land use (lease) provided by the state, or on the right of ownership;
• design and estimate documentation for the construction of an apartment building with a positive conclusion of a comprehensive non-departmental examination;
• money planned for expenditure in accordance with Article 20 of the Law on Equity Participation in Housing Construction, and (or) unfinished construction, confirmed by acts of completed works, in the amount of at least 10% of the project cost in the case of, if the land plot belongs to the right of ownership, or in the amount of at least 15% of the project cost if the land plot belongs to the right of temporary paid land use (lease) provided by the state;
• money to pay a commission for reviewing documents, a guarantee fee under a guarantee agreement;
• a contract for the construction of an apartment building.

In order to obtain a guarantee for the completion of construction and to attract funds from shareholders, the developer and the authorized company send JSC "Kazakhstan Housing Company" an application with a package of documents for the construction of an apartment building. After the documents are checked for compliance with the requirements of the legislation of the Republic of Kazakhstan in the field of equity participation in housing construction, JSC "Kazakhstan Housing Company". With a positive decision, a trilateral guarantee agreement is concluded between JSC "Kazakhstan Housing Company", the developer and the authorized company. From the moment of signing the contract, the developer has the right to sell shares in the house under construction, concluding equity participation agreements in housing construction with citizens of the Republic of Kazakhstan. At the same time, each contract is subject to mandatory registration with the akimat.