NUR-SULTAN (TCA) — Turkish investors will build a new shopping center in Kazakhstan’s capital Nur-Sultan. Kazakh Invest national investment promotion company will support the project, after a Memorandum has been signed between the national company and Turkey’s Kayatürk Group, Kazakh Invest said.
Within the framework of the document, the Turkish company expressed its intention to build a modern shopping center worth about $30 million. Kazakh Invest will provide support in interacting with government authorities, preparing the documentation required and obtaining preferences.
Construction and installation works are scheduled to begin in April 2021, and the first visitors will enter the shopping center already in 2021. According to investors, the covered area of the three-story facility will be about 40 thousand m2. Once the project is started up, they plan to create more than 200 jobs.
According to investors, the successful implementation of this project will give an impetus to investing in new facilities: “Given the level of profitability in the country and the number of large cities, we are planning additional investments in 4 shopping centers with a total area of 70,000 to 100,000 m2. In addition, among the group’s activities, the research is ongoing to enter the sector to construct residential, hotel, commercial and non-residential buildings,” said Atilla Atmaca, General Director of Kayatürk Group.
Today, across Kazakhstan in various fields there are more than 2,300 companies with participation of Turkish capital. Turkey ranks second in the number of operating foreign companies in Kazakhstan.