Kyiv-located Kyivmiskbud Holding will spend Hrn 75 million on building affordable properties in Kyiv under 50 program in 2011, Kyivmiskbud President Mykhailo Holytsya noted at a press conference in Kyiv on February15.

"The holding will spend Hrn 75 million of its own funds on realizing the program," he added.

Holytsya admitted that 50% of the apartment price would be paid by the citizens, 30% will be financed from the national budget and 20% using city budget funds, including the funds of the holding.

He mentioned that the national budget funds would be spent to on realization of the program when the government issues a cabinet resolution next week.

"The national budget foresees Hrn 350 million. It's unknown how much money reach Kyiv city around Hrn 167 million. Only Hrn 125 million is foreseen for the realization of the program in the city budget, Hrn 73 million will be allocated by Kyivmiskbud and another Hrn 30 million funds from Zhytloinvestbud UKB," he added.

Simultaneously, he mentioned that a total of 1,800 apartments will be commissioned in Kyiv under the 50 program, including 775 apartments built using the holding's funds. The estimated price of one square meter for the public will be Hrn 4,000-4,100.

He added that the price would not change even with sharp Hrnyvnia exchange rate fluctuations and property price hikes.

Holytsya reported that 775 apartments are situation in eight buildings under building process, six of them are situation in Pozniaky district, one in Alma-Atinska Street and one in Rozhevy Lane (Podilsky district). Additionally, the holding is in talks with local authorities in Poltava, Zhytomyr, Sevastopol (Crimea) and Bucha (Kyiv region) on joint realization of the affordable housing program.

The above mentioned program in the capital will launch on March 15 after all organizational procedures are complete, documents are signed and tenders are held.

Holytsya added that Kyivmiskbud has intension to commission some 250,000 square meters of housing in 2011, while in 2010 the indicator stood at 209,000 square meters.