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Joint Stock Company "Kazakhstan Housing Company" (until January 2021 – "Mortgage Organization Kazakhstan Mortgage Company") acts as the sole financial operator for financing the construction of credit housing within the framework of the Housing and Public Utilities Infrastructure Development Concept for 2023–2029, through the mechanism of acquiring government securities issued by local executive bodies. The company also implements its own investment projects in the construction sector.
In order to increase the supply of affordable housing for the depositors of «Housing Construction Savings Bank «Otbasy Bank» JSC, including standing in line at akimats, ”Kazakhstan Housing Company” JSC provides financing for the construction of credit housing by repurchasing of government securities of local executive bodies.
JSC "Kazakhstan Housing Company" carries out project financing of housing investment projects by attracting funds from international financial organizations on the principles of public-private partnership, in accordance with the requirements of an international financial organization.
In 2021, JSC "Kazakhstan Housing Company" signed an agreement with CG Land LLP to finance the urban development investment project G4 City in the Almaty region for a total amount of 31.1 billion tenge.
JSC "Kazakhstan Housing Company" also provides financing for the implementation of socially-oriented investment projects through the mechanisms of redemption of government securities of local executive bodies and project financing.
Social-oriented projects include projects related to the construction of educational facilities, social and cultural life, healthcare, other urban facilities, health and recreation facilities, as well as other social infrastructure facilities in cities
Funding for socially oriented projects are carried out subject to guaranteed purchase of real estate objects from the Company's balance sheet, including on the principles of public-private partnership.
JSC "Kazakhstan Housing Company" (until November 2020, JSC "Housing Guarantee Fund") provides a guarantee for the completion of the construction of a residential building (residential building) in the event of a guarantee event. The activities of the Housing Guarantee Fund JSC, as well as other participants in shared construction, are stipulated in the Law of the Republic of Kazakhstan dated April 7, 2016 “On shared participation in housing construction”.
JSC "Kazakhstan Housing Company" actively interacts with developers and local executive bodies to implement the guarantee mechanism.
Kazakhstan Housing Company JSC, within the framework of guaranteeing housing construction, has introduced a mechanism for guaranteeing loans to equity holders for the purchase of housing where there is a guarantee.
This mechanism is attractive for people who do not have additional collateral to obtain a loan to purchase a share in a house (in this case, the subject of collateral will be an agreement on shared participation in housing construction).
By the decision of the Sole Shareholder, the subsidiary organization of the Baiterek holding, the Housing Guarantee Fund JSC, ceased its activities by merging with the Kazakhstan Housing Company JSC.
On September 1, 2021, President Kassym-Zhomart Tokayev delivered the State of the Nation Address to the people of Kazakhstan titled “The unity of the people and systemic reforms are a solid foundation for the country's prosperity” during a joint meeting of the chambers of the Parliament of the Republic of Kazakhstan.
