Construction works volume in Kazakhstan up 15.2%

Experts say the People's Construction programme, initiated by the Head of State, could become a serious stimulus for Kazakhstan's entire construction industry. According to them, about 500,000 people work in the sector today, and millions more jobs are supported by related areas, from building materials production to logistics.

Experts stress that maximising the effect requires not only increasing funding but also distributing it wisely. They point to declining purchasing demand and argue that housing must be made more affordable. This would support developers, preserve employment and give an additional boost to the economy.

Vyacheslav Lazarev, vice president of the Union of Builders of Kazakhstan, said the housing programme is growing unprecedentedly, with 20 million square metres being built. However, purchasing power has fallen in recent months, so he urged the state to support the market through subsidies, lower interest rates and smaller down payments. Infrastructure and modernisation would follow.