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Four luxury apartments located in the prestigious Parc du Cap complex on the French Riviera have been put on the market. These properties are confirmed to be among the assets confiscated by Kazakh authorities.

The apartments were reportedly owned by Kairat Satybaldy, a nephew of former Kazakh President Nursultan Nazarbayev, and his three wives. The sale was announced on the website of Prian, a real estate agency specializing in international properties.

Details of the Sale

The listings for the four apartments precisely match the layout and specifications of properties previously held by Kairat Satybaldy and his wives: Saida Kanatbekkyzy, Asel Bakhtiyarovna, and Gulmira Qauasqyzy. These properties were registered under four Monaco-based companies: KS Propriete, SK Propriete, AB Propriete, and GK Propriete. While the current beneficial owners are not publicly disclosed due to the companies' registration in Monaco, the management rights are likely with the Company for the Management of Returned Assets, given the confiscation in favor of Kazakhstan.

The estimated total value of these French properties is approximately 8.7 million euros. Funds generated from the sale are slated to be transferred to the state budget of Kazakhstan.

Apartment Features

Each of the four apartments features a similar, understated design. They each contain three bedrooms with en-suite bathrooms, a living room, a kitchen, and a balcony. The apartments come fully furnished.

The Parc du Cap complex offers residents a range of amenities, including 24-hour security, underground parking, a fitness center, a SPA, a sauna, a swimming pool, and sea views.

Confiscated Assets in Kazakhstan

The assets confiscated from Kairat Satybaldy are not limited to France. In Kazakhstan, several properties are also being put up for sale. The Kaisar Plaza business center in Almaty is scheduled for auction with a starting price of nearly 62 billion tenge. Additionally, the DoubleTree by Hilton hotel and the 'Baysat' market are planned for sale, with the latter expected to generate around 4 billion tenge.

Some of the confiscated assets have already been transferred to state institutions. For instance, several business centers in Almaty now house scientific and educational organizations, while an unfinished hotel has been allocated to the Department of Judicial Administration.

Background

Kairat Satybaldy was sentenced to six years in prison in September 2022 for large-scale embezzlement. In 2024, his sentence was commuted to a restriction of liberty. Prior to this, he had transferred assets valued at 732.8 billion tenge (approximately $1.5 billion) to state control.

This information was reported by the Infohub.kz news agency.