ADQ and Qazaqstan Investment Corporation establish co-investment platform


Baiterek Holding’s marketplace will help reduce the cost of housing construction

Baiterek Holding’s marketplace will help reduce the cost of housing construction

Anuar Omarkhodzhaev, Deputy Chairman of the Board of “Baiterek” National Managing Holding JSC, spoke at the press conference in the President’s Central Communications Service.  He reported on how digitalization of the construction industry can help develop housing construction:

At the previous meeting, we showed how our Situation Center works, which now contains information on 900 objects financed under the Nurly Zher State Program. We also talked about the “Marketplace for Building Materials.”

This topic is relevant since Kazakhstan now imports more than 60% of building materials, which is one of the reasons why construction is expensive.

We have surveyed 123 manufacturers of building materials, and more than 70% of them support our initiative. The marketplace will help bring domestic manufacturers, real estate developers, and logistics companies together without any intermediaries and reduce the cost of housing construction by an average of 15%, – said the deputy head of the Baiterek Holding.

In addition, manufacturers of building materials will have the opportunity to conclude long-term contracts with real estate developers. It will stimulate the production and sale of products and eventually increase the share of local products in the market.

According to Altai Kuzdibaev, Deputy Chairman of the Board of “Kazakhstan Housing Company” JSC, in 2020, electronic cost estimates of 106 real estate objects that are being built under the Nurly Zher State Program were analyzed. Also, the number of required building materials was estimated in the “Nurly Zher” Situational Center. To date, the estimated cost of required building materials for 106 facilities is 51.4 billion tenge.

This year, manufacturers will be able to publish a catalog of their products. It is planned to introduce a possibility to conclude contracts online using an electronic digital signature. The marketplace in collaboration with logistics companies will introduce the function to track the delivery of building materials. A separate department will be created in the Kazakhstan Housing Company. It will systematize and verify marketplace participants, check production facilities, and so on, – Altai Kuzdibaev stated.

The developers are planning to integrate the marketplace with the “Industry” information system (a register of domestic manufacturers) of the Atameken National Chamber of Entrepreneurs and with the Online Construction Cost Management System. Besides, if necessary, an algorithm for conducting online “from the seller” and “from the buyer” auctions for building materials will be developed.

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