Chairman of the Board of Baiterek Holding Rustam Karagoyshin reported at the Government session on the implementation of programmes to support housing construction in 2024.

According to him, this year the total amount of support for housing construction through the instruments of Kazakhstan Housing Company JSC will amount to 640.3 billion tenge. For 11 months of this year supported projects for 604.2 billion tenge.

"On rental housing with the right to privatisation, the total plan of financing through the redemption of bonds MIO is 272 billion tenge for the purchase of 17.3 thousand flats. To date, at the expense of allocated funds of Samruk Kazyna JSC, the bonds of akimats for 248.5 billion tenge, or 91% of the annual plan, have been repurchased. Provision of the last tranche of 23.5 billion tenge to akimats is scheduled for 17 December this year after receipt of funds," Rustam Karagoyshin noted.

MIO has utilised 169.4 billion tenge, or 68% of the allocated funds. As of 6 December, Akimats announced tenders for the purchase of 16.9 thousand flats, of which 9.2 thousand flats were actually purchased, or 53% of the plan. Akimats need as soon as possible to complete all procedures for the purchase and acceptance of flats for those on the waiting list.

Akimats have been provided with 165.1 billion tenge in funding for credit housing through the bond redemption mechanism, or 100% of the plan. According to the Ministry of Industry and Construction, the expected plan of commissioning will be 10 thousand flats, of which 5.7 thousand flats were commissioned by the Ministry of Industry and Construction. Akimats need to ensure the fulfilment of the established volumes of commissioning of housing for people on waiting lists by the end of the year. In addition, in July this year to finance the renovation programme in Astana, bonds for 25 billion tenge were purchased.

"In order to maintain the pace of construction of social housing in 2025, it is proposed to use the mechanism of mixing the already allocated funds of the National Bank and repayable funds of the National Fund. This will allow through bond loans to send to the regions about 160 billion tenge at an average weighted rate of 4.25% per annum," Chairman of the Board of the Holding noted.

Projects totalling 165.6 billion tenge, or 93% of the plan, have been supported under the mechanisms of guaranteeing shared construction and subsidising developer loans. By the end of the year, projects totalling 178.2 billion tenge will be supported. This will allow to protect the funds of 7 thousand citizens in the construction of commercial housing.

#Construction #Finance #Government session