| World and foreign property news | 26.05.2009 |
International property / World and foreign property news / Kazakhstan to spend $2 billion on housing renovation
Kazakhstan to spend $2 billion on housing renovation
Local authorities have approved the plan of housing and utilities sector development for 2010-2014.
The program of municipal housing and public utilities infrastructure modernization is aimed on improving its investment appeal and implementing resource-conserving technologies. The government plans to spend 300 billion tenge ($2 billion) on this needs. This money will be spent on reconstructing the heat, water and electricity supply systems, and also on land improvements of urban areas.
Around 2 million homes with an overall floor area of more than 260 million sq. m. are available in Kazakhstan at the present time. Roughly 4 million sq. m. out of them are condemned. More than a third of all elevators need to be replaced or refurbished, and the wear of utility networks amounts to 60-75%, reports.
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