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The West Kazakhstan regional administration has been struggling for nine years to sell its stake in the "Aқzhaiyk" sanatorium. This year, the asking price was significantly increased to approximately 1.4 billion tenge, nearly tripling the previous valuation, yet no buyers have emerged.

Sanatorium's Current State and Valuation

The "Aқzhaiyk" sanatorium, located 45 kilometers from Oral, was put up for auction on March 17, 2026. The regional administration offered its 29.59% share for 1.4 billion tenge, which was the starting price for a reduced-price auction. According to an independent valuation, the sanatorium's total worth is estimated at around 1.6 billion tenge. The administration's stake was valued at 489 million tenge, a figure substantially lower than the auction's starting bid.

Despite the substantial price, the auction concluded without any bids for the nearly 30% stake.

History and Facilities of "Aқzhaiyk"

Established 40 years ago on the banks of the Ural River, the "Aқzhaiyk" sanatorium boasts mineral water springs, a sauna, and recreational facilities. A one-day stay, including five meals, is priced at 21,500 tenge. However, online reviews, particularly on the 2GIS platform, frequently mention issues with staff interactions, the facility's condition, and high prices.

Previous Sale Attempts

The West Kazakhstan regional administration has held a stake in the sanatorium for over 18 years and has attempted to sell it multiple times. In 2017, a 12.25% share was offered for 56 million tenge, but the auction failed due to only one participant registering. Earlier in 2025, an attempt to sell approximately 30% for 475 million tenge also failed to attract buyers. The most recent attempt on March 17, 2026, with a starting price of 1.4 billion tenge, met the same fate.

Ownership Structure and Company Performance

The "Aқzhaiyk" Sanatorium LLP has three main stakeholders. The largest share, 70% valued at approximately 1.1 billion tenge, belongs to the Kazakhstan Trade Union Federation. The West Kazakhstan Regional Akimat's State Procurement Department holds a 29% stake, valued at 489 million tenge. The remaining share is owned by an individual, Nұrsulu Erejepova.

The company is managed by Albert Safullin. In recent years, the sanatorium has participated in 23 state contracts totaling 216 million tenge. It has been involved in nine court cases, appearing as the defendant in seven of them. Over the last decade, the company has paid approximately 254 million tenge in taxes. In 2025, the company paid 43 million tenge in taxes, marking its highest revenue in the past ten years.

The reasons behind the akimat's desire to sell its stake in an operational sanatorium remain unclear. Tengrinews.kz has submitted an official inquiry to the West Kazakhstan regional administration.

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