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"Baiterek" Holding made a report on the results of "Nurlyzher" program implementation for 2017 to the Government

23.01.2018 Results of "Nurly Zher" housing construction program implementation for 2017 were considered during the meeting of the Government. "Baiterek" Holding takes part in four of five main areas of the program implementation on the market conditions.

"The Holding has fulfilled all the plans under "Nurly Zher" program for the last year" - said Aidar Arifkhanov, Chairman of the Management Board of "NMH "Baiterek" JSC.

Bonds for 71.9 bln. KZT of Akimats were borrowed, which was 100% of the plan. Thus all the previously funds allocated were utilized in full. According to Aidar Arifkhanov, "Baiterek" Holding from the beginning of 2017 has moved from housing construction direct financing to financing by bonds redemption of local executive bodies.

"Zhilstroysberbank of Kazakhstan" JSC (a subsidiary of "Baiterek" Holding) in the field of housing construction savings issued 41.7 thousand privileged housing loans in 2017 for a total amount of 289.9 bln. KZT. Business processes optimization of Zhilstroysberbank increased the number of daily contracts conclusion on housing construction savings in 2.5 times from 1 thousand to 2.5 thousand deposits.

658.6 thousand sq.m. of housing (10 829 apartments) were commissioned in the field of housing construction completion under previously adopted programs. Among them: "Baiterekdevelopment" JSC (a subsidiary of "Baiterek" Holding) commissioned 425.4 thousand sq.m. of housing (7 207 apartments) under rental and credit housing line, "Kazakhstan Mortgage Company" JSC (a subsidiary of "Baiterek" Holding) commissioned 203.2 thousand sq.m. (3 622 apartments) under rental housing line.

Applications from the population in the field of mortgage interest rate subsidizing for the amount of 13.3 bln. KZT were approved by second-tier banks. It is planned to subsidize 8 thousand mortgage loans for a total amount of 120 bln. KZT till the end of 2018.

Regional Coordination Councils approved 23 projects for a total amount of 27 bln. KZT under the credit rate of return subsidizing of private developers. Among them Damu Fund signed subsidizing contracts for 20 projects for a total loans amount of 26.1 bln. KZT.

"Nurly Zher" housing construction program was approved by the decree of the Government of the Republic of Kazakhstan dated December 31, 2016. It has united new mechanisms for housing construction supporting and previously operated in state and sectoral programs: "Nyrly Zhol" National Program of Infrastructure Development for 2015-2019, Regions Development program till 2020.