BAKU, Azerbaijan, January 19. Around 15.3 million square meters of living area will be built in Kazakhstan in 2023, Yerkebulan Dauylbayev, Vice Minister of Industry and Infrastructure Development, said, Trend reports citing Kazakh media.
This equals to around 130,600 households. Some 12,100 flats will be constructed with government investments.
Investments in living area construction have increased in 2022 by 16.8 percent in year-on-year terms, reaching 2.9 trillion Kazakh tenge ($6.23 billion).
“The construction industry is one of the key sectors of the economy. At the end of 2022, positive results were achieved in construction. The growth of labor productivity amounted to 4.2 percent, the share of the industry in GDP is 5.1 percent”, Dauylbayev said.
According to the government strategy, 111 million square meters of living area is expected to be commissioned in the next 7 years. This will provide new housing opportunities to around 1 million people.
The government identified construction as one of the major industries, which will drive the growth of Kazakh economy in the coming years. Development of the said industry is one of the major elements of the election program of the president.