Baiterek Holding to cooperate with DOM.RF

Today, Aidar Arifkhanov, the Chairman of the Board of Baiterek Holding, and Vitaly Mutko, General Director of DOM.RF, held a business meeting during the St. Petersburg International Economic Forum.

Aidar Arifkhanov told his colleague about the work Baiterek Holding had done to ensure the financial affordability of housing in Kazakhstan. In particular, he presented the results of the work of Kazakhstan Housing Company JSC, the Holding’s subsidiary and the Unified Operator of Housing Construction.

The parties also signed a Memorandum of Cooperation, under which they agreed to exchange the information and experience in implementing state and industry programs. The companies will exchange financial instruments for the development of the mortgage market, housing construction, and the creation of a favorable urban environment; help each other identify prospects, mitigate obstacles, and solve problems to increase the interest of public and private investors in the housing financing.

– Last year, we optimized our company and created a Unified Housing Construction Operator.We also updated the Development Strategy, which is based on the Singaporean Housing and Development Board. We will develop for the next five years. Soon we plan to build self-sufficient microdistricts with all the necessary social and commercial infrastructure. That is why cooperation with DOM.RF is a priority for us. The signed Memorandum is the first step in our long-term partnership that we will try to expand, – stated Aidar Arifkhanov.

Vitaly Mutko believes Baiterek Holding to have extensive experience and capability to support housing construction. He hopes the Memorandum will enable the two companies to exchange experience.

– For example, the issue of bonds is part of the so-called “infrastructure menu”, which was formed by the government to support the economy and social sphere in periphery regions. Securities that DOM.RF will start issuing this year can be used in concession projects. The fact that foreign financial institutions are showing interest in this mechanism confirms its promise, – said Vitaly Mutko.

DOM.RF was established in 1997 by a decree of the Government of the Russian Federation to promote the implementation of the state housing policy. It is a housing development institution that attracts investment, improves the quality and affordability of housing by developing standards, norms, and procedures for long-term mortgages.

The St. Petersburg International Economic Forum (SPIEF) has been held since 1997. Since 2006 it has been held under the patronage and with the participation of the President of the Russian Federation. According to the organizers, over the past years, the forum has become a leading global platform for communication between businessmen and discussion of Russia’s key economic issues, emerging markets, and the world economy in general.