HCSB plans to build 814K sq m of housing at expense of state funds

149 billion tenge, which President instructed to allocate for the construction of housing, will be directed to the construction of 814 thousand square meters, chairman of the Board of "Housing Construction Savings Bank of Kazakhstan" JSC Aybatyr Zhumagulov said at a press conference.
Nur-Sultan24 February , 12:42

"The Head of State praised the effectiveness of housing savings system and instructed to allocate 149 billion tenge. Of these, about 22 billion tenge will be directed to lending, and 127 billion tenge for the construction. This construction will take place in two directions. First - the local executive bodies. This is similar to the system of "Affordable Housing-2020". The second - the construction by "Baiterek Development" JSC - subsidiary of "Baiterek" holding”, - A. Zhumagulov said.

At the expense of these funds it is planned to build 814 thousand square meters - 14 thousand apartments.

At the same time A. Zhumagulov noted that there will be a multiplier effect, for the first 10 years 4-4.5 million square meters of social housing will be built.

Anara Tanyrkulova