As a part of the government support measures according to the Joint Action Plan of the Government, National Bank and Agency for Regulation and Supervision of Financial Market and Financial Organizations of the Republic of Kazakhstan to stabilize the economy and financial system for 2009-2010, support of the shared construction through the mechanisms of JSC «Samruk -Kazyna» are financed by the National Fund of Kazakhstan by two mechanisms :
- through the funding of the banks for mortgage lending
- Real Estate Fund is a purchase of the residential and commercial space in the unfinished objects.
It was financed the construction of 51 housing project , in the framework of solving the problems that are expected 11,186 shareholders , including through the mechanism of the completion of housing through commercial banks to finance 25 housing projects (8392 equity holders). According to the mechanism of the completion of housing projects, 26 sites were financed by Real Estate Fund.
On the 21st of June, 2012 Government approved the program «Affordable Housing - 2020», which is aimed at the comprehensive solution of the housing problems. The main objectives of the program are:
- to ensure balance of the housing market ;
- to attract the private investment in housing and encourage public- private partnerships ;
- to develop the engineering infrastructure ;
- to develop of individual housing construction;
- to decide the demolition of dilapidated housing ;
- to support for housing non-profit associations of citizens, including housing construction cooperatives, as well as individual developers ;
- to develop the construction industry in Kazakhstan .One of the main operators of the program is defined JSC «Real Estate Fund «Samruk -Kazyna ».
According to the program, the basic mechanisms of residential facilities construction are:
1. Organization of construction bids on investment of private developers (investors). (During projects selecting, priority is given to the projects in which the share of the developer’s (investor’s) funding is more).
2. Implementation of the Real Estate Fund projects on land (provided engineering and communication infrastructure) of the local executive bodies.
3. Implementation of the projects through the trust deposit (the trust bank deposits for lending to property developers will go for the construction of residential properties.
Implementation of the projects is based on the partnership principles with private capital by engaging the developer (investor) share in the project at least 20%.
4. Local executive bodies provide lands for projects with all necessary external engineering networks and the road infrastructure.
5. After the completion of construction and commissioning the premises are distributed according to the shares in the project
6. Implementation of the residential and commercial premises is carried out by rent of hire-purchase and direct sales, after registration of ownership rights and in accordance with the internal rules.
JSC «Samruk- Kazyna» and National Fund of the Republic of Kazakhstan will be built - 60 thousand square meters of housing in the lease-purchase in 2013, 90 thousand square meters - in 2014, 150 thousand square meters - in 2015-2020.