On October 21, 2024, JSC “Kazakhstan Housing Company” (KHC) announced the occurrence of a guarantee case for the project: “Multi-apartment residential complex with built-in premises and parking at: Astana, Nura District, intersection of Turan and Kabanbay Batyr avenues (excluding external engineering networks and boiler room), Phase 1 (Blocks B, B1, B2, B3, V, V1, G, D).”
To complete the construction of the residential complex and fulfill obligations to shareholders under the shared-equity guarantee agreement, the Company has commenced the necessary measures to resume construction of the project.
Reference:
JSC “Kazakhstan Housing Company,” the sole operator of housing construction (a subsidiary of JSC “NUH “Baiterek”), on November 18, 2023, concluded Guarantee Agreement No. DPG-21-01-039/092 with LLP “Caspiy Qurylıs LTD” and LLP “Garant Investment” for the above project, with the initial commissioning deadline of January 3, 2024.
Based on developer requests between January 3, 2024, and October 3, 2024, the Sole Operator approved extensions of construction deadlines three times. Despite these measures, monitoring of the construction progress revealed significant delays in the commissioning and completion of construction works.
In accordance with the Law on Shared-Equity Participation in Housing Construction, if the deadline for commissioning a multi-apartment building is violated, the Sole Operator makes a decision to recognize a guarantee case.
Press Service
JSC “Kazakhstan Housing Company”
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