JSC «Samruk -Kazyna» heard the report of JSC «Real Estate Fund «Samruk- Kazyna » about the results for the first half of 2013

On the 12th of September  the Board of JSC «Samruk -Kazyna»  heard the report of management of JSC «Real Estate Fund  «Samruk -Kazyna » (hereinafter – REF SK ) about  the main results of operations for the first  half of 2013 (hereinafter - the Fund) at the regular meeting chaired by Umirzak Shukeyev, the leader of the Fund, in Astana

During the reporting period REF SK had a net income of $ 881 million tenge, which is 2% above plan. In addition, it was reduced the cost, including general and administrative expenses by 23% and financial costs by 18%.

The program «Affordable Housing 2020» concluded 6 contracts of investing in the implementation of the projects under the mechanism for applications developers. The total area of ​​the concluded agreements amounts to 412 thousand square meters or 7,464 apartments, including 5756 apartments of REF SK.

In this case, till the end of this year, according to the program «Affordable Housing 2020» it is planned to put into operation two facilities covering an area of ​​162.89 square meters in conjunction with the private developers .

Overall, according to REF SK there are 16 housing projects, including the fund’s share of not less than 348.8 thousand square meters.

According to the program «Affordable Housing 2020» REF SK also pays great attention to providing the local content in the procurement of the developers and human resource development in the construction industry. Thus, the proportion of the local content in the contractors’ procurement for the ongoing projects is 70%. The Fund plans to ensure the conservation of this indicator in the medium term.

REF SK is given the commissioning instructions according to the planned program «Affordable Housing 2020» to put into operation square meters of rental housing till the end of 2013, as well as to enhance the work on the new strategic directions, including the project «Green Quarter» as part of the preparations to the international exhibition EXPO -2017 and other investment projects .

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