A hotel complex formerly owned by Kairat Satybaldyuly and transferred to the city of Almaty has been put up for electronic auction again — this time with a starting price more than three times higher, infohub.kz reports.
The lot is a hotel complex with a total area of over 16,000 square meters, located at 115 Dosmukhamedov Street. The announcement was published on the e-Qazyna.kz electronic trading portal by the Department of State Property and Privatization.
The starting price this time is 38,278,230,000 tenge, with a guarantee deposit exceeding 1.9 billion tenge. The auction is scheduled for 10:00 on October 29. The lot terms state that a sale to a single bidder is permitted.
The current valuation is three times the initial price set at the first auction on September 25 this year, when the starting price was just over 12.7 billion tenge. The first auction failed because no bidders registered.
The Department of State Property and Privatization previously said that in August 2023, under a gift agreement, the hotel was transferred to state ownership. In September of that year, the property was placed on the balance sheet of the Department of Judicial Administration.
Meanwhile, reports of the building's demolition began circulating online. However, in response to a NUR.KZ correspondent's inquiry, the city akimat stated that the former hotel is not being demolished. It noted that after the project is completed, the building and land plot are planned to be transferred to the communal state institution "Almaty City Digitalization Department."