Government of Kazakhstan considers a new concept of housing program

12 December 2016, 10:30

At Government meeting of Kazakhstan, Minister of National Economy Kuandyk Bishimbayev reported that the priorities of the program will support mortgage lending through the subsidization of mortgages, encouraging private developers to increase the volume of construction of housing loans for depositors of Zhilstroysberbank and someone on the waiting list of local government offices.

As part of the program it is planned to establish a regional fund for rental housing without compensation for the most vulnerable segments of the population and the development of individual housing construction by supplying the necessary infrastructure.

More than 1.5 million homes will be built as a result of the implementation of the new program of individual housing construction.

"The task set by the Head of the state, need a program, people are waiting. It is necessary to intensify the work. All the proposals that were made at today's meeting, it will be necessary to re-examine - this is of concern to all. Therefore, Askar Uzakpaevich (First Deputy Prime Minister of Kazakhstan Askar Mamin - agency's note), will have to work again all together and submit for confirmation until the end of the year," B.Sagintayev said.

"This program will give a serious impetus to the development of housing construction, loading capacity of domestic enterprises and allow to increase the share of local content to more than 90%. At the same time it should be noted that the tools that are offered in the program, do not exist today. The introduction of these tools will give a serious impetus to the development of multifamily housing and individual housing construction. All arrangements have been discussed with the regions, all comments will be reflected in the final version of the program. We believe that it will be very important in terms of construction and formation of the modern image of our cities," A. Mamin said.

It should be reminded that President Nursultan Nazarbayev has set the Government of Kazakhstan new tasks and priorities for the near future. It has been tasked with some developing  government programs, among them are a special program for productive employment and inclusion of self-employed people in small and medium businesses, a new program of development of agriculture for 2017-2021 and the program of individual housing construction.