Baiterek made report on the progress of «Nurly Zher» program realization

Today the results of «Nurly Zher» housing construction program realization for 9 months of 2017 were considered at the meeting of the Administration. «Baiterek» Holding works on four of five main areas of the program.

As acting Chairman of the Board of JSC NMH «Baiterek» Aidar Arifkhanov said, all the main indicators of the program realization during the reporting period according to the plan were achieved.

It was planned to redeem bonds of local executive bodies for 28.8 billion KZT, but purchased securities for 53.2 billion KZT.
«This year, «Baiterek» Holding transferred from direct financing of housing construction program to financing by redemption of bonds of local executive bodies, as well as conditional investment of funds to second-tier banks»
- Aidar Arifkhanov said.

Within «Nurly Zher» housing construction program JSC Zhilstroysberbank of Kazakhstan (a subsidiary of «Baiterek» Holding) for 9 months issued 29 thousand loans for the amount of 195 billion KZT, which exceeds the annual plan by 14 billion KZT. 

Within the scope of housing construction program realization under the previously adopted programs, JSC Baiterek Development (a subsidiary of «Baiterek» Holding) commissioned 278,000 square meters of rental and credit housing or 4625 apartments. In addition over 111.5 thousand square meters will be commissioned by the end of this year.

Within the scope of rental housing construction JSC Kazakhstan Mortgage Company (a subsidiary of «Baiterek» Holding) commissioned 159 thousand square meters or 2,811 apartments. As a part of interest rate on mortgages subsidizing, Kazakh Mortgage Company received 700 applications for the amount of 7 billion KZT, 650 loans in the amount of 6.6 billion KZT were approved for subsidizing. In total it is planned to subsidize 1 thousand loans for the amount of 15 billion KZT in 2017 and 7 thousand loans for the amount of 105 billion KZT for 2018.

Within the scope of the interest rate on loans of private developers subsidizing, JSC «Damu» Entrepreneurship Development Fund (a subsidiary of «Baiterek» Holding) approved projects to be subsidized for a total amount of 16.4 billion KZT. During the reporting period, private developers lent 32 projects for a total amount of 39.5 billion KZT. 

«Nurly Zher» housing construction program was approved by the Decree of the Government of the Republic of Kazakhstan on December 31, 2016. It united new mechanisms for housing construction program and previously operated in state and sectoral programs supporting: «Nurly Jol» National Program for Infrastructure Development for 2015-2019, Program for the Development of Regions until 2020.

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Baiterek made report on the progress of «Nurly Zher» program realization

Today the results of «Nurly Zher» housing construction program realization for 9 months of 2017 were considered at the meeting of the Administration. «Baiterek» Holding works on four of five main areas of the program.

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