The Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Bakyt Torobaev has presented the keys to apartments in the house built by the “Keremet Bank” OJSC and the “State Mortgage Company” OJSC
Bishkek, December 11, 2023
On December 10, 2023 in Bishkek the Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Bakyt Torobaev took part in the Ceremony of handing over the keys to apartment owners in a new residential building built down the Ankara Street.
This large-panel nine-story building series 108 was erected in accordance with par 3. of the Official Instruction No. 18-573 dated 18.02.2022 of the Executive Office of the President of the Kyrgyz Republic “On Implementation of the Housing Program of the Kyrgyz Republic “My Home 2021-2026” in terms of arranging the residential zones for housing construction in cities and the mechanisms for its financing,” as well as on the basis of the General Cooperation Agreement 19-04-2022-GS dated 30.04.2022 between the “State Mortgage Company” OJSC and the “Keremet Bank” OJSC .
The event was also attended by the Chairman of the Management Board of “Keremet Bank” OJSC Timur Berbaev, Deputy Chairman of the Bank’s Management Board Kastor Mamytova, Ruslan Sultanov, heads of structural divisions and the officials of this financial institution, Deputy Chairman of the Management Board of “State Mortgage Company” OJSC Amantur Omurov, ex-Chairman of the Management Board of State Investment Company Aida Tologonova, as well as new residents.
– The State Mortgage Company has launched a new project, within which the recipients of mortgage loans buy housing under construction. Many thanks to Aida Beishenalievna, the Management Team of State Investment Committee and the Keremet Bank for the implementation of this Project, thanks to which 55 families occupy new apartments,” said Bakyt Torobaev. – The state will continue this work; in general, it is planned to commission tens of thousands of apartments in various areas of mortgages. I also express my gratitude to the Construction Company “Favorit Stroy Group” for the high-quality house construction.
– It is a great honor for the corporate team of our financial institution (Keremet Bank is a state bank) to implement government programs aimed at solving social problems and meeting the population’s housing needs. After all, our mission is to serve society by providing financial services! – emphasized Timur Berbaev, the Chairman of the Management Board of “Keremet Bank” OJSC.
Amantur Omurov noted in his speech that the Project was launched on the initiative of the President of Kyrgyzstan Sadyr Japarov, as well as the Chairman of the Cabinet of Ministers of the Kyrgyz Republic - Head of the Executive Office of the President of the Kyrgyz Republic Akylbek Japarov. Aida Tologonova congratulated the new residents and also expressed confidence that the Pilot Project, which had shown its success, would be continued.
In November 2022, the Management Board of Keremet Bank selected the “Construction Company “Favorit Stroy Group” LLC for construction of nine-story residential building. And at the end of April 2023, the Bank began financing the work using funds from the State Investment Committee. The facility was commissioned in November 2023, that is, the turnkey construction lasted exactly seven months from the date of funds allocation.
Contemporary certified materials were used during construction and finishing. The building has South Korean elevators. The house has all central communications services such as hot and cold water, sewerage, electricity, gas.
Reference:
In 2021, the Cabinet of Ministers of the Kyrgyz Republic approved the Housing Program “My Home 2021-2026” in order to provide the Kyrgyzstan’s citizens with affordable housing.
The Housing Program “My Home 2021-2026” is implemented by the Open Joint Stock Company “State Mortgage Company” in three directions: “Preferential mortgage” - for officials of budgetary institutions, “Social mortgage” - for representatives of vulnerable population; and “Affordable mortgage” - for citizens of the country, irrespective of their field of activity.
On April 30, 2022, Keremet Bank concluded the General Cooperation Agreement with the State Mortgage Company in pursuance of the Official Instruction dated February 18, 2022 of the Executive Office of the President “On Implementation of the Housing Program of the Kyrgyz Republic “My Home 2021 - 2026” in terms of arranging the residential zones for construction housing in cities and the mechanisms for its financing.”
According to the terms and conditions of this General Agreement, SIC provides investment funds to the Bank, and Keremet Bank provides mortgage loans to participants in the “My Home 2021 - 2026” Program in the “Affordable Mortgage” direction for 25 years at 8% per annum.
55 borrowers of Keremet Bank mortgage loans concluded the Shared construction participation agreements with the developer, “Favorit Stroy Group” LLC. It should be noted that such shared participation of mortgage loan recipients under the state program is a unique pilot project developed for citizens’ convenience, and it has been successfully implemented. The following fact gives evidence of the benefits of this project for clients: three-room apartments Series 108 with the area of 93 m2 handed over to buyers with turnkey finishing, were sold for 54 thousand dollars, while the market price of three-room apartments Series 106 (secondary market) is 75-80 thousand dollars.
Any additional information about the terms of mortgage lending can be found on the Keremet Bank website https://keremetbank.kg, and by phone: 0 (996 312) 55 44 44 or e-mail – call-center@keremetbank.kg.
NBKR License No. 049
