Kazakhstan injects USD 2.8bn in housing construction in 2011.

By bne IntelliNews February 6, 2012
Kazakhstan injected KZT 417bn (USD 2.8bn) in housing construction last year, an increase of 19.2% y/y, the chairman of the State Stat Agency for Construction, Housing and Utilities Serik Nokin has said. As a result of the program, 6.5mn m2 of housing was commission which means a growth of 1.9% y/y. Nokin noted that all measures under the program were implemented except banks financing. The country allocated KZT 57bn to the banks but they used only KZT 2.4bn. The banks received loan applications for KZT 8.9bn.

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