Kazakhstan developing new housing program

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ASTANA (TCA) — At the Government meeting on December 12, Kazakhstan’s Minister of National Economy Kuandyk Bishimbayev said that the new program’s priorities are the support of mortgage lending through mortgage loans subsidies and encouragement of private developers to increase construction of new housing, the official website of the Prime Minister of Kazakhstan reported.

As part of the program it is planned to establish regional funds for rental housing for the most vulnerable segments of the population and develop individual housing construction by supplying the necessary infrastructure.

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

“This program will give a serious impetus to the development of housing construction, loading capacity of domestic enterprises and allowing to increase the share of local content to more than 90%,” First Deputy Prime Minister of Kazakhstan Askar Mamin said at the meeting. “At the same time it should be noted that the tools that are offered in the program do not exist today. 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, and 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.”

President Nursultan Nazarbayev earlier set priority tasks for the Government of Kazakhstan for the near future, including developing a government program for productive employment and inclusion of self-employed people in small and medium businesses, a new program of agriculture development for 2017-2021, and a program of individual housing construction.

Sergey Kwan

TCA