Asset Recovery Management Company Sells 4,500-Hectare Plot Linked to Kairat Boranbayev

Kazakhstan’s Asset Recovery Company (CMRA) has announced the successful sale of a land plot in the Almaty region that previously belonged to one of Kairat Boranbayev’s companies, Orda.kz reports.

According to CMRA, the auction on August 13 saw one of the plots offered under the asset recovery program sold for 217 million tenge — the same price it was listed at.

The property is agricultural land in the Qarasay district, near the village of Shamalgan, with an area of over 4,500 hectares. Public records indicate it was formerly owned by the Almaly holding, founded by Boranbayev.

Under established rules, within ten business days after the auction ends, the buyer and seller will sign a purchase agreement. The property will be transferred only after the full amount is deposited into the seller’s account. Proceeds will be directed to the Special State Fund, CMRA stated.

The identity of the buyer was not disclosed.

The area around Shamalgan is often informally referred to as the stronghold of the Nazarbayev family.

Original Author: Nikita Drobny