“Nurly Zher” Housing Construction Program
“Nurly Zher” Housing Construction Program (hereinafter referred to as a Program) was approved by the Government regulation of the Republic of Kazakhstan dd. December 31, 2016 No. 922, combining the new mechanisms of Housing Construction support and acting on the previously adopted state and branch programs: State program of “Nurly Zhol” infrastructure development for 2015-2019, the Program of regional development up to 2020.
The goal of the Program is to increase the availability of housing for people.
To achieve this goal, “NMH Baiterek” JSC (hereinafter - the Holding) takes part in the implementation of the following tasks (directions) of the Program through the subsidiaries of the Holding:
1. Increasing the availability of mortgage lending (task No. 1 of the Program).
Since 2017 the subsidies will be allocated annually from the Republican budget in the amount of up to 7% per annum from the interest rates of mortgage housing loans that will be channeled through the financial agent of “IO “Kazakhstan Mortgage Company” JSC;
2. Promotion of housing construction by the private developers (task No. 2 of the Program).
Since 2017 the subsidies will be allocated annually from the Republican budget in the amount of 7% per annum from the interest rates of developers’ credits that will be channeled through the financial agent of “PDF “Damu” JSC;
3. Construction of credit housing through the system of housing construction savings (Task No. 3 of the Program).
"Zhilstroysberbank of Kazakhstan" JSC will be allocated 24 billion tenge annually for credit financing of investors since 2017 to ensure the turnover of funds allocated for construction of credit housing;
4. Providing with rental housing for people (Task No. 6 of the Program).
In the framework of previously adopted state and government programs in 2017-2018 the construction of rental housing of “IO “Kazakhstan mortgage Company” JSC is in the process now.
5. Support of share housing construction (Task No. 7 of the Program).
The implementation of mechanism for protection of deposits is carried out by “Fund of guaranteeing of housing construction” JSC.