JSC "Mortgage Organization"Kazakhstan Mortgage Company", a subsidiary of NMH "Baiterek"JSC, was renamed into JSC "Kazakhstan Housing Company" (abbreviated name - "KZhK"JSC). Official re-registration was carried out with the registration authority on January 26, 2021.
Recall, on behalf of the Head of State Kassym-Jomart Tokayev, the housing block of the National Management Holding "Baiterek" was transformed by merging three subsidiaries - JSC "Baiterek Development", JSC "Housing Construction Guarantee Fund", and JSC "MO"Kazakhstan Mortgage Company" into the Unified housing construction operator in Kazakhstan. On July 8, 2020, the President of the Republic of Kazakhstan signed the relevant Law "On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on Reducing the Number of Housing Programs Operators."
"Baiterek" holding remains the sole shareholder of JSC "Kazakhstan Housing Company" with 100% of the state shares. The merged company will continue to work as the Unified housing construction operator in the following main directions:
- Issuance of mortgage loans;
- provision of rental housing with subsequent purchase;
- lending to developers under government programs;
- subsidizing loans to private developers and mortgage loans;
- financing of housing construction and implementation of investment projects;
- guaranteeing the completion of housing construction.
Thus, the Kazakhstan Housing Company will provide the further implementation of government measures aimed at increasing the provision of high-quality and comfortable housing for the country's population, including by providing support to the construction industry, creating conditions for balanced growth in demand and supply in the housing market and mortgage lending.
It should be noted that on September 8, 2020, according to the Resolution of the Government of the Republic of Kazakhstan No. 557, JSC "MO"Kazakhstan MortgageCompany" received the status of the Unified housing construction operator.