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Samruk-Kazyna announced terms of Affordable Housing Program

14 march 2012, 11:08
Construction in Astana. Photo by  Danial Okassov©
Construction in Astana. Photo by Danial Okassov©
Photo by  Danial Okassov©
Photo by Danial Okassov©
Samruk-Kazyna real estate fund published the terms for participation in Affordable housing program, Tengrinews.kz reports.

"A person who signs the contract on rent with further purchase, will not have a right to purchase the apartment for 3 years. It will no longer be considered the housing primary market in 3 years, that's why we will not restrict people after that," chairman of Samruk-Kazyna real estate fund Bolat Palymbetov said.

Categories of people with a right to sign the contract on rent with further purchase will not be limited to only young families and those having no other housing. "We have another category of people. These are young people, who work in insurance companies, construction companies and different banks. They are our people too, young people who got into an 'interesting' situation. They cannot buy social housing, as they do not fall into the low-income category and cannot buy 'business' apartments for $3,000 per a square meter," Palymbetov said.

According to him, other categories of people have been forgotten and Samruk-Kazyna is planning to fill this niche. The Fund has already received bids from construction companies all over country will to participate in the project.

As for participation in the program, the application can be filled in on the Fund's website, which, according to Bolat Palymbetov, will help avoid standing in lines, as well as eliminate the possibility of contact between the people and the commission members who review the applications. Implementation of the program will start after it is approved by the government. "In 2013 we are planning to introduce 200 thousand square meters. We are currently searching for the projects for these meters. We will start as soon as the financing issues is resolved," managing director of Samruk-Kazyna real estate fund Adilbek Kusherov said.

The Fund has already selected several companies that are ready to start the construction. Two pilot projects in Shymkent and Astana are almost ready for implementation. Construction in other cities will start a little later. "We will prepare a new package of documents for this new program, where we will state our principles. We will also define the priority principle of financial solvency, as we pursue returnability and security of investments. These are state money and we have to return them," member of the board of Samruk-Kazyna real estate fund Marat Karibzhanov said.

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