Kazakhstan Residential Company AO (Kazakhstan)

The Mortgage Organization Kazakhstan Mortgage Company AO, located in Astana (Nur-Sultan), was established in 2000 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan. Its purpose is to implement the Concept of Long-Term Financing for Housing Construction and Mortgage Lending. The company became one of the first mortgage organizations in the post-Soviet space, with its activities focused on implementing state housing policies. In 2020, AO "Kazakhstan Mortgage Company" was reorganized through the merger with AO "Baiterek Development" and AO "Housing Construction Guarantee Fund". After the reorganization, the company became the Unified Housing Construction Operator and changed its name to AO "Kazakhstan Housing Company" in January 2021. AO "Housing Construction Guarantee Fund" was established in 2016 based on the previously operating AO "Kazakhstan Mortgage Guarantee Fund". The fund's task is to create an effective mechanism to protect the rights and interests of equity holders by guaranteeing the completion of shared construction projects. AO "Baiterek Development" (formerly AO "Stressed Assets Fund") acted as the financial operator of the state housing and communal development program "Nurly Zher" for 2020-2025. Its functions included financing the construction of credit housing through the purchase of local executive bodies' government securities and monitoring the progress of credit housing construction. The company's other activities included implementing investment projects in the construction industry and completing projects initiated during the 2009-2010 anti-crisis measures and the EXPO-2017 projects. AO "Kazakhstan Housing Company" incorporates the main areas of work of the merged companies and is also developing new directions in accordance with the adopted Development Strategy for 2021-2023. The Unified Housing Construction Operator will further implement state measures aimed at increasing the availability of quality and comfortable housing for the country's population, including supporting the construction industry and creating conditions for balanced growth in demand and supply in the housing and mortgage lending market.