Almaty's Baisat market, previously owned by the son of Kairat Satybaldy, has been sold on the fourth attempt at an electronic auction for 24.77 billion tenge, reports infohub.kz.
According to the electronic trading platform, the auction for the 100% stake in the limited liability company 'Center for Wholesale and Retail Trade' took place on August 7. The sale price was 24,772,753,285 tenge, exactly the starting price. The buyer has not been disclosed.
The property is located at 7 Severnoye Koltso Street, Zhetysu District, Almaty. The average annual number of employees is 64. The seller was the Asset Recovery Management Company. The estimated value of the asset was 28.64 billion tenge.
This was not the first attempt to sell Baisat. The previous auction at 28.6 billion tenge failed due to lack of bidders. The starting price was then reduced several times: first to 26.7 billion, then to 24.77 billion tenge. Thus, the final sale price was 13.4% below the estimated value.
In January 2024, the Almaty prosecutor's office reported that the inter-district economic court had invalidated transactions involving the property of the 'Holding Almaty Zhylu' complex, later known as the Baisat market. The complex includes three buildings with a total area of 4,221.4 square meters and a land plot of 1.4 hectares.
The asset was owned by affiliated companies 'KazGerStroy Joint Venture' and Astana Financial Group, which belonged to Bauyrzhan Nursultan. After litigation, the stake in the market was returned to the state. Earlier, Kairat Satybaldy also voluntarily transferred most of the Baisat market to the state as part of a pre-trial investigation.