VTB Bank (Kazakhstan) launched the financing of the private developers of residential property within “Nurly zher” program.
This direction of “Nurly zher” housing program is implemented with the assistance of “Baiterek National Management Holding” and “Entrepreneurship Development Fund Damu” JSC.
- One of the directions of “Nurly zher” program provides sponsoring of the interest rate on the bank credits by the state for the private developers, which allows reducing significantly the loan disbursements and cheapening the construction of the residential property. Now, this service is available for our clients – legal entities, - the Chairperson of the Board of VTB Bank (Kazakhstan), Dmitry Zabello, says. – Our bank has also been actively working in another direction of “Nurly zher’ program for more than half a year by now – financing of remuneration rate on the credits for the purchase of a new apartment for the individual persons. We are always excited to take part in the government programs of high social significance.
Private developers that need the credit for the construction of residential property may participate in the program. The loan amount is not limited; period for draw-down of funds should not exceed 3 years, herewith “Baiterek” holding finances 7 % per annum from the remuneration rate on the credit for the whole period of financing. The private developer must sell at least 50% of constructed accommodation to the depositors of “Zhilstroysberbank of Kazakhstan” JSC at the fixed price per 1 sq. meter with fine finish: for Almaty and Astana cities and their suburban areas – not more than 260 thousand tenge; for the rest of Kazakhstan – not more than 220 thousand tenge.
By choosing VTB Bank (Kazakhstan) within credit granting under “Nurly zher” program, the developer obtains flexible finance terms, adapted to the activity of the client, and short response time.
Information:Subsidiary VTB Bank JSC (Kazakhstan) is a member of VTB international financial group. The Bank has successfully worked more than 8 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 41 structural subdivisions, 17 of which are branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.
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