Housing programme operators will be merged into single housing operator

Housing programme operators of Kazakhstan Mortgage Company JSC, Baiterek Development JSC and Housing Construction Guarantee Fund JSC will be merged into a single housing construction operator. The relevant amendments on reducing the number of housing programme operators were approved by Majilis in the first reading, correspondent reports.

As noted in the conclusion, the bill is pursuant to the President’s instruction to reduce the number of housing programme operators, eliminate their duplicate functions and reduce general administrative costs.

The bill proposes amendments to 3 codes and 4 laws of the Republic of Kazakhstan and provides for the introduction of the concept of “a single housing construction operator” - a mortgage organization with direct or indirect participation of the state in the authorized capital, which carries out activities to ensure the availability of housing to the population through mortgage lending mechanisms, and also ensuring the availability of financial resources for the construction industry.

Laura Tusupbekova
10:41, 8 April 2020


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