The fate of the building that once housed a hotel owned by Kairat Satybaldyuly in Almaty has been clarified. Contrary to rumors of demolition, the property will be renovated and converted into an IT hub, reports infohub.kz.
Earlier, the Department of State Property and Privatization reported that in August 2023, the hotel was transferred to state revenue under a gift agreement, and in September of the same year, it was placed on the balance sheet of the Department of Judicial Administration. However, online speculation suggested the building might be demolished.
The Almaty city administration (akimat) denied these rumors in response to a query from NUR.KZ correspondent, stating that no demolition is taking place. Instead, comprehensive renovation works are underway, including restoration of the facade, window openings, interior spaces, and improvement of the surrounding area. A major overhaul is planned, followed by the building's commissioning.
The project's investor is LeanQor LLP. The joint-stock company "SPK Almaty" provides the building for the works, with financing coming from the investor's own funds. The project is implemented in line with the head of state's directive to develop IT and AI infrastructure, train personnel, and build competencies in these fields.
The akimat explained that given the city's need for modern facilities, it was decided to repurpose the idle building rather than demolish it. After the project's completion, the building and land plot are planned to be transferred to the municipal state institution "Digitalization Department of Almaty City." The facility will be used for implementing state programs in digitalization and artificial intelligence development, as well as housing residents from IT, AI, creative industries, and related fields.
Recall that in September 2022, a court found Kairat Satybaldyuly guilty of embezzlement and sentenced him to six years in prison. Later, his request for parole was denied. In April 2024, a new trial began in Astana regarding Satybaldyuly's assets in Russia, the UAE, France, and Kazakhstan. Satybaldyuly agreed to return real estate and luxury cars to the state. According to the Anti-Corruption Agency, an additional 50 billion tenge is expected to be recovered in his case, and the Prosecutor General's Office stated that property worth that amount will be returned to the state.