State Seizes Undeveloped Resort Land from Kulibayev-Linked Company
Photo: Dall-E, illustrative purposes
Authorities have confiscated several hectares of land in Kazakhstan’s Aqmola region from Kipros LLP, a company linked to one of the country’s wealthiest businessmen, Timur Kulibayev, Orda.kz reports.
The land, located in the coastal zone of Lake Shchuchye, had remained undeveloped since 2012. Following legal action by the Burabay District Prosecutor's Office, the property has now been returned to state ownership.
The three-hectare plot, with a cadastral value of 53.4 million tenge, was granted to Kipros LLP in 2012, but no development has taken place for over a decade,the Prosecutor’s Office stated.
In 2023, Kipros was formally instructed to begin development on the land. However, by 2024, no construction had started. As a result, prosecutors filed a lawsuit, and the Specialized Interdistrict Economic Court ruled in favor of the state, ordering the land to be seized.
Kipros LLP is considered one of the key business assets of Timur Kulibayev, son-in-law of former President Nursultan Nazarbayev. Kulibayev currently ranks fourth on the Forbes Kazakhstan list of the country’s richest individuals.
Original Author: Ruslan Loginov
Latest news
- Gasoline Worth 37 Billion Tenge: Kazakhstan Uncovers Fuel Export Scheme To Kyrgyzstan
- Kazakhstan To Change Rules For Using State Symbols
- Cyprus Visit To Kazakhstan Sparks Dispute In Greek And Turkish Media
- Business Subsidies To Be Reviewed Once Every Three Years
- Former Kyrgyz Prime Minister’s Son Reportedly Detained In Almaty
- Nearly Three Billion Tenge Set Aside For Almaty Metro Extension
- Kyrgyzstan Enters UN Security Council For The First Time
- Kazakhstan Plans Radioactive Waste Center, But Still Has No Site
- Where Kazakhstan’s Toll Roads See The Most Traffic
- Teenager Hospitalized In Shymkent After Scorpion Bite
- Tax Authorities Start Warning Kazakhstanis About Mobile Transfers
- Deputy Seeks Amnesty For People Convicted Over Social Media Comments
- Kazakhstan To Write Off Billions In Fines Under New Amnesty Bill
- Kazakh MP Walks Back “Penaltystan” Remark After President’s Criticism
- Kazakhstan Wants More Control Over Marketplace Orders
- Tokayev Sees A Gap Between Alatau’s Ambitions And Reality
- Almaty Drivers To Receive Alerts In Low-Emission Zone
- Almaty And Hong Kong To Get Direct Flights Next Year
- Rare Wild Horses Arrive In Kazakhstan From The Czech Republic
- Offshore Or Crypto Hub? Alatau City Awaits Its Own Financial Rules
