Online platforms Krisha․kz and Korter․kz have been fined in Almaty for advertising shared-equity construction projects that did not have permission to attract investors' funds. The total amount of the fines was 6.4 million tenge.
WHY THE COMPANIES WERE HELD LIABLE
According to the Almaty Urban Planning Control Department, administrative offence protocols were drawn up against the website operators.
The department explained that attracting citizens' funds for the construction of multi-apartment residential buildings, as well as advertising such projects, is only permitted with authorisation from the relevant authority or through other legally provided mechanisms for protecting the rights of equity holders.
As the department noted, the projects advertised on these platforms did not have the necessary permits.
WHAT FINES THE COMPANIES RECEIVED
Following the review of the materials, JSC «Kolesa», which owns Krisha․kz, was fined 1,000 MCI, or 4.3 million tenge.
The branch of «Flatfy-Kazakhstan», which operates Korter․kz, received a fine of 500 MCI, or 2.1 million tenge.
WHAT IS RECOMMENDED TO HOME BUYERS
The Almaty city administration reminded that before purchasing property on the primary market, citizens are advised to check whether the developer has permission to attract equity holders' funds, as well as other required permits.
The existence of such documents is intended to protect the rights of participants in shared-equity construction.