Kazakh billionaire, Timur Kulibayev has sold his mansion in the prestigious London neighborhood of Mayfair for £35 million pounds sterling. The son-in-law of Kazakhstan’s former president, Nursultan Nazarbayev is also looking for a buyer for a second house nearby, according to a report in City A.M.
The British publication claims that Kulibayev has struck a deal to sell the property to North Wind Capital, an investment company founded by former Deutsche Bank director, Ben Williams. The new owners are planning a large-scale reconstruction of the building.
According to City A.M., Kulibayev’s mansion on Upper Grosvenor Street was sold at an undervalued price due to the value of luxury real estate taking a significant drop since Brexit. Many London homeowners have already taken substantial losses on investment and residential properties.
“Kulibayev has owned two mansions next door to each other for almost 20 years. They are directly opposite the Embassy of Monaco, and just a short walk from Buckingham Palace. Almost all this time, the house which he sold was empty,” notes the City A.M. article.
In 2024, Timur Kulibayev and his wife Dinara Kulibayeva, daughter of Nursultan Nazarbayev, still sit atop the list of the richest Kazakhs. The combined fortune of the Nazarbayev family is estimated at almost $10 billion.
