Real estate prices may climb in 2011 - housing official

(SRI) - Real estate prices in Kazakhstan may resume their growth 2011, chairman of the Agency for Construction and Communal Management Serik Nokin said on Monday, citing a current halt in new construction.

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ANALYSIS: A thaw in Kazakhstan as real estate prices rise again

(bne) - Prices have at last bottomed out and started to rise again in Kazakhstan’s real estate market. For 2010, the forecast is a fragile recovery and the gradual completion of many part-finished construction projects.

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Kazkommertsbank to finance halted construction projects

(SRI) - Kazkommertsbank received KZT20 billion ($134 million) from Kazakhstan’s state holding and investment company Samruk-Kazyna to finance stalled construction projects.

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ANALYSIS: Residential real estate: Good days in Kazakhstan still another 2-3 years off

(bne) - Top bankers in Kazakhstan expect the residential real estate sector to recover in two to three years time when demand will once again outstrip supply.

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Central Asia’s biggest mall opens in Almaty

(bne) - International retailers have been slow to come to Kazakhstan, but that is set to change with the opening of Central Asia’s largest mall in mid-September.

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Real estate prices continue to fall

(SRI) - Real estate prices in Kazakhstan fell by 2.4 percent in July, the state statistics agency reported. This is a second consecutive monthly decline after prices seemingly bottomed out in April and May.

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Alliance Bank lends $110 million to Kazakh builder

(SRI) - Alliance Bank said on Thursday it signed a credit agreement with the Ait Housing Complex construction company to lend the builder KZT16.5 billion ($110 million) to complete the Axelkent construction project in Almaty, KASE reported.

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KUAT workers threaten strike in Almaty

(SRI) - Employees of the construction company KUAT threatened to block one of Almaty’s central streets or go on hunger strike to protest their situation, Kazakhstan Today reported on Thursday.

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Major real estate developer defaults on debt

(SRI) - Build Investment Group (BIG), a major real estate developer, declared a technical default on debt obligations totalling KZT3 billion ($20 million), KASE reported.

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Residential real estate prices continue to fall

(SRI) - The average residential real estate price in Kazakhstan fell 0.6 percent month-to-month to KZT141,462 ($943) per square meter for newly built homes, while prices on the secondary market fell 1.6 percent to KZT104,420 ($696) per square meter, the state statistical agency reported.