Samruk-Kazyna starts construction works in Astana and Taraz by Affordable Housing 2020 Program

11:34, 19 June 2013

ASTANA. June 19. KAZINFORM - "Real Estate Fund" Samruk-Kazyna " JSC is reporting on the conclusion of an investment agreement and the start of construction of residential complex Shygys in Astana and two 25-apartment houses in Taraz by program named "Affordable Housing 2020", the press-service of the company says.

Shygys residential complex consisting of three blocks (1A, 1B, 1C) will be located on the left bank of the river Ishim at Syganak street. Total area of apartments will be 85 133, 91 square meters, including housing under the contract with the investment fund - 768 apartments.

Houses under construction in Taraz are at Mayakovsky Str., 42. Living area is 5 558.58 sq.m. Construction is scheduled for completion in 2014.

According to the Program the Fund foresees two options of the property: direct sale and lease with purchase. In this case, a hire-purchase agreement may provide for the right to early acquisition of residential property to a tenant.

Implementation of residential fund in lease-purchase will be up to 15 years. After full fullfillment of his obligations the tenant under the lease-purchase housing dwelling will be transferred to the ownership of the lessee. Individuals can exercise their right to purchase the premises, including on a lease-purchase no more than once.

There are rules for implementation of residential premises of "Real Estate Fund" Samruk-Kazyna " JSC under Affordable Housing - 2020 Program, according to which the receipt of applications for the purchase of real estate is planned to be via Internet.

As part of the Program the Fund is also responsible for construction of a residential complex Asyl Arman in the suburbs of Almaty and a residential complex Uni City in Aktobe.

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