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Baiterek and Astana Akimat expanding cooperation

JSC “National Management Holding “Baiterek”. July 12. Baiterek Holding and Akimat of the city of Astana will continue persistent efforts to attract investment, develop entrepreneurship, infrastructure of the city and apply new technologies. Chairman of Baiterek Holding Yerbolat Dossayev and Astana Akim (Mayor) Asset Issekeshev agreed on that during their today’s meeting.

The parties discussed the programs on development of SMEs, investment attraction, housing construction and many other aspects of joint work.

It is worth to remark that Astana is implementing the industrialization program. “We have strong potential for interaction in the field of financing of projects on the territory of Astana – New City special economic zone. As a result of the first five-year period of the State Program on Forced Industrial Innovative Development 22 projects were put into operation, 3 thousand jobs were created, Yerbolat Dossayev noted.

In addition, from the beginning of implementation of the Business Roadmap 2020 there were approved 531 projects totaling 94.2 billion tenge. More than 8 thousand jobs were preserved, 4.3 thousand new jobs were created.
One of the key aspects of the cooperation between the Akimat and Baiterek is the support to SMEs. Astana ranks first in Kazakhstan on the share of SMEs in Gross Regional Product. Baiterek proposed two new initiatives for promising cooperation in this sphere.

The sides also agreed to develop cooperation in the field of public private partnership. In particular, the sides considered the application of public private partnership mechanism in the construction of kindergartens, hospitals and other facilities.

Another field of joint work will be the construction of affordable housing. In 2015, JSC "Kazakhstan Mortgage Company" (a subsidiary of the Holding) signed contracts for construction / acquisition of 853 apartments with a total area of 56.7 thousand square meters to the amount of 10.8 billion tenge, with deadline for the completion of construction and installation work in December 2016.

JSC "Baiterek Development" (a subsidiary of the Holding) is financing the construction of rental housing (113 billion).

Financing of the construction of credit housing through Akimat is carried out through the issuance of bonds with a maturity of up to 2 years. June 30, 2016 JSC "Baiterek Development" made the first purchase of bonds of Astana city totaling 1.7 billion tenge.

Within the framework of the program on development of regions Housing Construction Savings Bank (a subsidiary of Baiterek) and Akimat of Astana city signed cooperation agreements for the construction and sale of 14 residential homes for 3328 apartments. 10 houses for 2321 apartments have been commissioned. 29 639 applications had been accepted for the commissioned apartments.

Given the increased demand from the population for housing in Astana, as well as the rapidly growing portfolio of contributions in the Astana branch, it was also offered to consider the possibility of expanding housing finance instruments.

“As the President said, Astana should become a “smart city” with strong small and medium-sized businesses. Therefore, on attracting investment, supporting entrepreneurship, we together with Baiterek Holding have discussed our plan of action on what programs we will work together. We are going to make maximum use of private investment and PPP mechanisms,” the mayor of the city Asset Issekeshev emphasized.
Following the meeting Baiterek Holding and Akimat of Astana agreed to develop a detailed action plan by September of this year.