Almaty Renovation, the operator of Almaty's housing renovation program, reported its financial results for 2025, according to infohub.kz.
Net profit jumped 94.5% to 1.28 billion tenge from 657.3 million tenge. The growth was largely driven by a sharp increase in gross income, which rose to 488.6 million tenge from 49.4 million tenge.
The main contributor to the net profit rise was financial income, which surged to 2.32 billion tenge from 504.8 million tenge. Most of this came from deposit interest: 1.61 billion tenge in 2025 compared to 503.5 million tenge in 2024.
However, the strong inflow was partially offset by higher expenses. Administrative costs increased to 656.2 million tenge from 484.3 million tenge, and impairment losses amounted to 816.5 million tenge versus 194.2 million tenge a year earlier.
Almaty Renovation's assets grew 35.2% to 137.49 billion tenge over the year. Liabilities rose only 8.4% to 57.64 billion tenge.
Earlier, it was reported that 95 houses will be demolished in Almaty in 2026. Already, 204 owners of dilapidated housing have moved into new apartments under the "Housing Renovation Program of Almaty until 2030." Relocation is organized by Almaty Renovation together with "SPK Almaty" and private investors. Housing is provided on a "room-for-room" basis, or a cash compensation is paid at the market value of the former apartment.