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About the Fund

ABOUT THE FUND

Joint-stock company "Real Estate Fund" Samruk-Kazyna "was established on March 6, 2009. The sole shareholder of the Real Estate Fund is JSC Samruk-Kazyna. The Real Estate Fund is the operator of the Anti-Crisis Program, the "Nurly Ger" program in the areas of rental and commercial housing, and also through the subsidiary company is implementing the "Green Quarter" project in Astana.

 

IMPLEMENTATION OF THE REGIONAL DEVELOPMENT PROGRAM TO 2020

The regional development program was developed through the merger of five programs: "Development of Regions", "Mono-City Development Programs for 2012-2020", "Modernization of Housing and Communal Services for 2011-2020", "Ak-bulah for 2011-2020" and "Affordable housing 2020 ".

In 2012, the Real Estate Fund was identified as one of the operators implementing the Regional Development Program until 2020.

In total, as part of this program, as of December 31, 2016, the Real Estate Fund signed financing agreements for 16 housing projects in 12 regions of the country. The total area of ​​the premises exceeds 634 thousand square meters, including 505 thousand square meters of the premises of the Real Estate Fund, which is 8,4 thousand apartments, 8,3 thousand square meters of commercial premises and 455 car parking slots. In 2016, the Real Estate Fund concluded financing agreements for 4 facilities with a total floor space of at least 86.5 thousand square meters.

As of December 31, 2016, the Real Estate Fund has financed facilities at a cost of 62.2 billion tenge, including 8.1 billion tenge in 2016. To date, under this program, the Real Estate Fund is implementing 7 projects.

 

IMPLEMENTATION OF THE «NURLY ZHOL» PROGRAM

Under the instruction of the Head of the State, the "Nurly Zhol" program was launched in 2016 to support private developers and the development of the construction sector of the economy, taking into account the current difficult economic situation. The program "Nurly Jol" was approved by the Decree of the President of the Republic of Kazakhstan No. 1030 of April 6, 2015. One of the priorities of the Program is to increase the availability of housing for citizens.

In 2016, the Real Estate Fund became the runner of the "Nurly Jol" Program, the State Program for Infrastructure Development for 2015-2019. The expected effect from the implementation of the Program includes not only the erection of objects of a higher class of comfort and the creation of additional jobs, but also ensuring the prompt return of funds by developers that will be accumulated and directed to support new projects. In this connection, 97 billion tenge were allocated from the National Fund of the Republic of Kazakhstan for the implementation of the Program on the line of the JSC "Real Estate Fund" Samruk-Kazyna ". These funds are used in the most in-demand  housing projects, which are guaranteed to be popular among the population.

During the reporting period, the Real Estate Fund concluded 8 contracts for investing in construction at a cost of 95.6 billion tenge and of total housing floor space of ​​356.5 thousand square meters, including the share of the Real Estate Fund was 75.9 billion tenge and 324.6 thousand square meters, respectively.

 

REALIZATION OF "GREEN QUARTER" PROJECT

 

The Real Estate Fund is identified as the main executor of the project for the construction of the administrative and residential complex "Green Quarter" in Astana with the application of advanced environmental and energy-efficient technologies.

"Green quarter" is a pilot project in the field of transition to the concept of "green" construction and will be presented in the framework of the forthcoming international specialized exhibition EXPO-2017.

The "Green Quarter" project is the construction of residential, office, retail real estate, social infrastructure with a total area of ​​208,000 square meters with the use of advanced environmental and energy-efficient technologies. "Green quarter" is located near the shopping and entertainment center "Khan Shatyr" in Astana.

The architectural concept of the Green Quarter project was developed by the British company AHR. The project will have the shape of the city of the future and will become a bright, stable, ultra-modern and socially united residential community in our capital. The concept provides for the use of innovative green technologies - energy-efficient lighting, comfort technologies, separate waste collection, increased insolation due to intelligent design, reuse of sewage, combined extract and input ventilation with recovery, etc. On the territory there will be created an exclusive landscape design of the adjacent territory, a picturesque clean lake, a park with running and bicycle paths, a fitness center, a winter ice rink, a medical center, a children's center,

The project consists of 10 residential and 3 commercial blocks. All objects are divided into 4 construction stages:

  • Line 1 - residential blocks B8, B9 and B10. The commissioning date is May 31, 2017;
  • Stage 2 - residential blocks B1, B12, B13 and office building B11. The commissioning date is May 31, 2017;
  • Line 3 - residential blocks B4, B5, B6 and B7. The commissioning date is May 31, 2017;
  • Line 4 - office buildings T4 and T5. The commissioning date is December 31, 2017.

It is planned to certify the buildings of the Green Quarter project for compliance with LEED (Leadership in Energy and Environmental Design) standards of the US Green Building Council. The certification will confirm the uniqueness of this project, corresponding to the motto of the International Exhibition Astana Expo 2017 - "Energy of the Future".

The total estimated cost of construction according to the conclusion of the state expertise was 43.9 billion tenge. The residential area of ​​the apartments will be 49,181 square meters, the total area of ​​commercial premises will be 74,406 square meters. The number of apartments in the residential complex will be 620 units.

 

KEY PERFORMANCE INDICATORS

Financial indicators

Description

Unit

2014

2015

2016

Net income

Million tenge

1 732,9

1 467,2

4 089,3

ROACE

%

2,39

2,15

3,54

EBITDA margin

%

- 22,2

26,19

41,57

 

 

Performance indicators

Description

Unit

2014

2015

2016

Real estate pool within the framework of the Development of the Regions Program until 2020 

thousand м2

455

433,1

505

Real estate pool within the framework of the “Nurly Zhol” Program

thousand м2

 

 

324,61

Annual real estate comissioning

thousand м2

140,6

151,4

35,5

Sold real estate

thousand м2

59,4

157,9

65,9

Involvement index

%

75

66

85

Corporate governance score

%

71,21%

75%

 

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