Almaty Administration Assists Hundreds of Defrauded Shareholders in Recovering Funds

The Almaty administration is implementing measures to assist defrauded shareholders of several residential complexes. The Interdepartmental Commission on Share Participation Issues, established on the orders of Almaty Akim Darkhan Satybaldy, has made decisions that will enable shareholders to recover their funds.

Specifically, the matter of lifting seizures from properties and continuing the construction of Esentai City residential complex has been addressed. A mechanism for compensating the shareholders of Dostar Deluxe residential complex was also presented to the initiative group of owners.

An investor ready to purchase the site and restore the losses incurred by the shareholders has been identified to continue the construction of the Monblanc residential complex. Currently, preparations are underway for corresponding agreements between the investor and the shareholders.

It should be noted that a criminal case is being investigated against the developers of two illegal residential complexes - Pine Hill and Sky Club. The commission has reached an agreement with an investor who will receive the plots after the completion of the procedures for lifting seizures and recovering lost documents. The investor will assume obligations to settle debts with the shareholders.

The commission is also addressing issues of shareholders concerning several other problematic residential complexes, such as Switzerland and Silver Hills, for which the conclusion of criminal investigations is awaited.

The composition of the commission was approved by the city head and includes representatives from law enforcement, local executive, and other state bodies.

It is also worth noting that during a session of the city maslikhat, the head of the Construction Control Department, Olzhas Tulebayev, discussed the commission's operational mechanism concerning such projects. "Each problematic project will have a specific completion model assigned, with an operator and implementation timelines defined. The commission's decision will be binding for all involved state bodies. This will eliminate lengthy approvals and allow for results – either the project’s completion or providing alternative solutions for shareholders," concluded the department head.

Prospective buyers of primary real estate are strongly advised to verify the full set of documents from the developer or check the project’s status through the Construction Control Department's reference WhatsApp channel at +7 705 89 66 000. (Operating hours: 09:00 to 18:00, Monday to Friday).

reported by ЖКХ24 citing the website of the Almaty City Energy and Housing and Communal Services Department.

Photo: gov.kz