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About the Program «Nurly Zhol»

From the 2016, Real Estate Fund Samruk-Kazyna JSC is defined as one of the operators for the implementation of the "Nurly Zhol" infrastructural development program.

On February 10 of the current year, at the Extended Government Session the Head of the State has given an instruction, accounting for the existing delicate economic situation, to strengthen the construction sector of economy through a program of support for private developers.  Samruk-Kazyna JSC has allocated KZT 97 billion for these goals.

It is planned to allocate these funds to the most required residential construction projects which are in demand among the population. This shall make it possible not only activate the construction sector, but also to ensure the return of the funds in the soonest possible time by the developers, which shall be accumulated by the Fund and directed for supporting the new projects. Such system of supporting the construction sector yields a possibility to preserve the existing jobs, create new ones, and prevent the negative consequences of the economic recession.

Real Estate Fund Samruk Kazyna JSC has a significant experience of successful implementation of the anti-crisis program in the years 2009-2011, which is actively used nowadays by the other operators of the State programs.

Accounting for the matured practice a next, new stepwise mechanism has been developed, which has been approved on May 11 of the current year by the Decree of the President of the Republic of Kazakhstan "On introduction of amendments and changes in the "Nurly Zhol" State program of infrastructural development:

  1. Samruk-Kazyna JSC in the frames of the funds, allocated according to the State program, amounting to KZT 97 billion, shall provide the Real Estate Fund with an opportunity of financing the construction projects. The loan funds shall be allocated for the period of 10 years with the obligations of a compulsory turnover of the given funds with regularity of 2 years.
  2. The Real Estate Fund shall organize housing construction on the principles of public-private partnership with the developer. The developer shall be provided with the right to sell all the Project housing pool at the free market for a period of no more than 24 months from the beginning of the construction funding.
  3. The developer shall transfer the funds, received from the housing sales, to a special account of the Real Estate Fund, that shall guarantee receiving of the finished apartments by the buyers or returning of the citizens' monetary means in case of violation of the obligations for the project construction completion by the developers. The housing, unsold by the developer at the free market, shall be transferred to the Real Estate Fund with 20% discount for selling to the population through the mechanism of direct sale and ensuring the return of the monetary means.

With the regulations for disposal of assets, as well as the regulations for selection and reviewing of the residential construction projects жin the frames of the mechanism for supporting private developers you may familiarize yourself at the website of the Real Estate Fund www.fnsk.kz.

According to the conditions, embodied in the "Nurly Zhol" State program of infrastructural development, prime cost of construction of 1 square meter should make up no more than KZT 240 thousands in the cities of Astana, Almaty and their suburban areas, Aktau, Atyrau, and no more than KZT 200 thousand in other regions of the country.

During the current year, it is planned to implement new residential construction projects within "Nurly Zhol" program in Astana, Almaty, Karaganda, Shymkent, Kyzylorda, Ust Kamenogorsk. It is about 10 thousand apartments with the total area more than 490 thousand square meters.