27.01.2021

The single operator of housing construction has a new name

Subsidiary of JSC "National Management Holding" Baiterek "- JSC" Mortgage Organization "Kazakhstan Mortgage Company" was renamed into JSC "Kazakhstan Housing Company" (abbreviated name - JSC "КЖК").

  Official re-registration was carried out with the registration authority on January 26, 2021.

  To recall, on behalf of the Head of State Kassym-Zhomart Tokayev, the housing block of the Baiterek holding was transformed by merging three subsidiaries - Baiterek Development JSC, Housing Construction Guarantee Fund JSC and Kazakhstan Mortgage Company IO JSC into a single operator housing construction in Kazakhstan. On July 8, 2020, the President of the Republic of Kazakhstan signed the corresponding Law “On amendments and additions to some legislative acts of the Republic of Kazakhstan on the reduction of the number of operators of housing programs. "

  The only shareholder of Kazakhstan Housing Company JSC remains the Baiterek holding with 100% of state shares. The merged company will continue to operate as a single operator of housing construction in the following main areas:

- Issuance of mortgage loans;
- provision of rental housing with subsequent purchase;
- lending to developers under government programs;
- subsidizing loans to private developers and mortgage loans;
-financing of housing construction and implementation of investment projects;
- guaranteeing the completion of housing construction.

Thus, Kazakhstan Housing Company will ensure the further implementation of government measures aimed at increasing the provision of high-quality and comfortable housing to the country's population, including by providing support to the construction industry, creating conditions for a balanced growth in demand and supply in the housing market and mortgage lending.

 It should be noted that on September 8, 2020, according to the decree of the Government of the Republic of Kazakhstan No. 557, JSC "IO" Kazakhstan Mortgage Company" was assigned the status of a Single operator of housing construction.