ATFBank announces approval of first project under residential construction scheme Nurly Zher in Almaty
/KASE, September 25, 2017/ – ATFBank (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
One of the directions of "Nurly Zher"new state housing program (hereinafter –
the Program) is stimulation of construction of multi-apartment housing through
state subsidization of the loan rate for developers.
The first residential complex construction project in Almaty under "Nurly Zher"
program was approved by ATFBank JSC (hereinafter – ATFBank, Bank). The subsidization
agreement was signed on the 22nd of September. Financing to be provided will
amount to KZT 8.8bn. As a result of implementation of the project, 14 multi-storey
residential buildings with 994 apartments with a total area of 55,063.12 square
meters will be built in Shugyla microdistrict of Nauryzbay district of Almaty.
The construction is planned to be completed by May 1, 2018. The developer of the
complex is Timus LLP. According to conditions of the Program, up to 50% of sales
will be carried out through Housing Construction Savings Bank of Kazakhstan JSC
(hereinafter – Zhilstroysberbank).