The national chamber of entrepreneurs of the Republic of Kazakhstan "Atameken"
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Shared housing without cheating

01 August 2016 - Pavlodar Region
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How to avoid becoming a victim of fraud in the case of equity participation in housing construction? This question is particularly relevant today for many Kazakhstanis

At the site of the Chamber of Entrepreneurs was held a round table with the participation of the prosecutor's office, companies in the sphere of housing construction, as well as the authorized state bodies.

As it was stated by the deputy prosecutor of the region Kuat Artykbaev, currently, throughout the country there are more than 60 problematic objects (and it is about 9000 people), the construction of which is carried out with a significant delays behind the schedule, or is completely suspended.

The representative of the prosecutor’s office also, announced the main provisions of the law "On the equity participation in housing construction", which was adopted on 7th of April this year.

So, it is worth noting that the law provides for three new mechanism for the organization of shared construction: first - to attract cash holders, only after the construction of the frame of a house. Another important aspect - is a guarantee of equity deposits through the Guarantee Fund of housing construction. And the third - the project financing through second-tier banks. That is, all three mechanisms provide additional protection for "holders" of rights, which, in turn, means that the second-tier banks or the Fund of guarantee of housing construction will play the role of "safety cushion" for the "shareholders" in the event of bankruptcy.

Another innovation is the establishment of a direct prohibition by law to attract money "of equity share holders" for construction, if the process does not comply with the law.

The provisions of this legislation are designed to improve the level of trust of citizens to participate in the joint construction of housing and to provide protection and safeguarding of equity share holders’ funds, as well as the suppression of the facts of illegal fundraising of citizens’s money.

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