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“Baiterek” reported to the Government on the implementation “Nurly Zher” program for the first half of 2017

Intermediate results of the implementation of “Nurly Zher” housing construction program for the first half of 2017 have been reviewed today at the session of the Government of the Republic of Kazakhstan.

As the Chairman of the Executive Board of JSC “National Managing Holding “Baiterek”, Erbolat Dossayev reported, - “For the reporting period the Holding has achieved all planned goals of the program. Baiterek Holding participates in the implementation of four main areas of “Nurly Zher” housing construction program out of five.” – he explained.

This year, in the area of construction of housing loans through mortgage agreement system the Holding has changed the funding model. The focus has been shifted from direct funding of the construction of houses towards funding through redemption of bonds of local executive authorities, as well as conditional investment of funds in second tier banks. Therefore, based on the results of the first six months 28.7 billion tenge worth of securities were acquired from Akimats.

Within the framework of “Nurly Zher” housing construction program “Zhilstroysberbank Kazakhstan” JSC subsidiary of the Holding granted 18 thousand loans for the total amount of 117.1 billion tenge, which is 129% of the established plan. 3.9 thousand of those loans for the amount of 35.4 billion tenge were granted in Astana, and 2.8 loans for the amount of 21.5 billion tenge were granted in Almaty.

In the area of implementation of the housing construction within the framework of adopted programs “Baiterek Development” JSC subsidiary of the Holding leased 240.2 thousand square meters of rental housing, representing 3959 apartments. Plan was overfulfilled 2.5 times, which is related to rapid growth of the construction industry from private sector developers.

Within the framework of the construction of rental housing JSC “Mortgage Organization “Kazakhstan Mortgage Company” subsidiary of the Holding has delivered 66.1 square meters of housing, in accordance with the established plan for the first six months. Which is equal to 1194 rental apartments.

“Nurly Zher” housing construction program was approved by resolution of the Government of the Republic of Kazakhstan of 31 December, 2016. It has combined new mechanisms of housing production support, and such state and industry programs as: “Nurly Zhol” state program of the infrastructure development for 2015-2019 and Region Development Program until 2020.

http://www.baiterek.gov.kz/en/news/events/8194/

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