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Investments in Kazakhstan’s housing sector increase over 6pct

Business Materials 23 October 2017 11:35 (UTC +04:00)

Baku, Azerbaijan, Oct. 23

By Nigar Guliyeva – Trend:

In January-September 2017, 591.3 billion tenge was invested in housing construction in Kazakhstan, including state investments worth 108.4 billion tenge, compared to almost 555 billion tenge in the same period of 2016, Kazakh Minister for Investment and Development Zhenis Kassymbek said at a governmental meeting Oct. 23.

"Meanwhile, 7.9 million square meters of housing were put into operation in January-September 2017, which is 10.2 percent more than in the same period of 2016. A total of 69,900 houses were built," Kassymbek said.

He said that 25 billion tenge was allocated for the construction of rental housing without redemption in 2017.

To date, 78 apartments have already been commissioned in the country’s Atyrau and Zhambyl regions, the rest apartments are planned to be commissioned by late 2017.

"As part of the pilot project of individual houses, 1,975 houses are being constructed in 6 regions, 362 houses of them are planned to be commissioned in 2017, "the minister said.

"At present, banks are considering 32 projects of construction companies in the amount of 57.2 billion tenge,” Kassymbek said. “In general, 17 projects worth 35.1 billion tenge were approved.”

The official exchange rate for October 23 is 335.24 KZT/USD.

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