Land Auction in Shamalgan, Nazarbayev Family's Hometown, Draws No Bidders

The Company for the Management of Returned Assets (CMRA) has announced an auction for a land plot in the hometown of the Nazarbayev family — the Shamalgan settlement in the Almaty region, Orda reports.

The 142-hectare plot is in a picturesque place and costs 127 million tenge.

Want to buy a plot of land for construction, business or recreation? You will find ideal offers with us! We offer to buy a plot of land in convenient locations with full infrastructure. Buying a plot of land is an investment that only increases in value over time. Choose the best option and have time to buy a plot of land at a bargain price, says the ad description.

The auction was not held due to lack of bidders. 

The property has several attractive features - nearby springs are popular with tourists and near Ile-Alatau National Park, which assessors describe as a good location. CMRA also controls two adjacent plots: one massive 627-hectare parcel and another 50-hectare plot. 

Based on the current pricing (8,946 tenge per hundred square meters), the largest plot would be valued at approximately 560 million tenge.

These areas appear to have been confiscated from a single owner, though not all have been listed for auction yet.

Business Center Also Fails to Attract Bidders

CMRA has also attempted to auction a business center in an upscale Almaty neighborhood, valued at 4.3 billion tenge.

The ten-story office building, spanning nearly 4,000 square meters in the Koktem-2 district, is fully occupied by rental tenants. 

CMRA head Kuanyshbek Mukash stated that when the company acquired the property, they renegotiated all existing lease agreements.

While the appraisal report conceals the previous owner, an investigation of the tenant list and cadastral records revealed the building belonged to Rent Investment Group LLP.

Of the 4.3 billion tenge valuation, 167 million represents the land value (0.2 hectares). A February 5th auction also failed to attract any participants.

Original Author: Ilya Astakhov