According to Construction Minister Nurdan Oruntaev, one of the key mechanisms for strengthening the protection of homebuyers will be a requirement for a minimum amount of charter capital for construction firms. These funds must remain at the company's disposal until construction is fully completed.
How the guarantee for homebuyers will work
The measure is intended to provide additional financial protection for citizens who have invested in construction. According to the minister, having such capital guarantees that the company will have certain funds to continue work or to compensate for possible damage if problems arise with the developer or in the event of bankruptcy.
The construction minister's position
Nurdan Oruntaev explained that the funds making up the charter capital must not be withdrawn and must remain at the firm's disposal until construction is completed. This should serve as a guarantee that the company will not face bankruptcy.
