The Almaty Logistics Center (ALC) real estate investment fund, which leases space in Almaty's Mart shopping and entertainment center, reported a profit of 6.9 billion tenge for 2025, up from 108.4 million tenge a year earlier, according to the fund's financial statements, as reported by infohub.kz.
Rental income, which forms the fund's revenue, reached 7.24 billion tenge in 2025, compared with 1.07 billion tenge in 2024. The cost of services fell to 106.6 million tenge from 128 million tenge in 2024.
Other income amounted to 346.4 million tenge in 2025, whereas a year earlier this line showed a negative result of 167.6 million tenge. Retained earnings at the end of 2025 stood at 8.8 billion tenge.
Almaty Logistics Center is registered at 18 Zorge Street in Almaty, the same address as the Mart shopping and entertainment center. Until February 23, 2025, Property Management ST was the sole tenant of the building, and on February 24, 2025, ALC signed a new lease agreement with MC Mart.
As of the end of 2025, 42.5% of ALC's ordinary shares were owned by Arcada, another 42.5% by Nazir Invest, and 15% by Alprof.
Arcada is solely owned by Alexey Nefedov. In 2025, he ranked 11th on Forbes' list of Kazakhstan's largest rentiers. His company manages Asia Park shopping center in Astana, as well as Mart, Asia Park, and MART Village in Almaty.
Nazir Invest is co-owned by Ershat Salimov, Vladimir Sidelnikovsky, and RVS. In turn, RVS is co-owned by Vladimir Sidelnikovsky and Rivner Davletbaev.
Ershat Salimov ranks 71st on Forbes' list of Kazakhstan's richest people with a fortune of $102 million, while Vladimir Sidelnikovsky ranks 65th with $131 million.
Earlier, ALC announced dividend payments for September 2026. The dividend will be 1,000 tenge per preferred share. A total of 200,000 such shares have been issued, so the total payout to ALC shareholders will be 200 million tenge.
Meanwhile, ALC's financial performance declined in 2026. In the first half of the year, the fund's net profit was 587.9 million tenge, compared with 2.77 billion tenge a year earlier.