News

As reported by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA), total assets of mortgage companies as of April 1, 2008 amounted to KZT 213.8 bn. Kazinform reports that this figure decreased by KZT 2.3 bn year-to-date, which is 1.1% in terms of percentage points. Total liabilities decreased by KZT 6.0 bn (3.5%) as compared...

Funds allocated from state budget proved to be insufficient for all important residential developments in Almaty. As it was announced earlier, the Government decided to finance the projects of 17 developers through allotment of KZT 13 bn for completion. It is the opinion of Zhumabek Turegeldinov, the Senate Parliamentary that this list is to be extended. Decision to finance residential development...

According to the information provided by the Ministry of Economy, the growth rate of capital investments is still high. «In the first quarter 2008 increase was as much as 16 per cent, - informed the Head of Ministry. For comparison, this figure last year was equal to 7.1 per cent». As explained by B.Sultanovа, despite of slow down in residential construction, the volume of construction in the coun...

A 21-floor building being built in the square of Gagarin, Mynbayev, Satpayev, and Radostovtsa streets will be demolished, - as reported by the correspondent of the agency with a reference to the Almaty Department of State Architectural and Construction Control (DSAC). This residential complex is developed by Atameken Kurylys Company. "Developer has no construction permission. We do not issue this...

Kaisar Omarov, Chairman of the Committee for Construction and Municipal Housing Economy Affairs at the Ministry of Industry and Trade reported that the Law of Kazakhstan on Shared Interest in Residential Construction would be amended to impose stricter requirements to construction companies. In particular, one of the amendments will serve to increase required authorized capital of the developer up...

April 7, 2008 – CB Richard Ellis Group, Inc. has been named to the  BusinessWeek 50—that publication’s list of best performers across all industries—for the second straight year. BusinessWeek selects 50 best-in-class companies that the magazine says represent the star performers in each of the ten sectors that make up the S&P 500. CBRE was ranked #11 on the 2008 BusinessWeek 50, up from 16th place...

Kazakhstan real estate market is not subject to the rules of supply-and-demand situation, and it is now very difficult to forecast its development. This statement was made by Nina Lukyanenko, the Vice-President of the National Realty Association, during «Kazakhstan Mortgage Market: Development and Challenges» round-table discussions.According to the representative of association, today one may obs...