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Otbasý Bank has officially acquired the Duman Hotel complex in Astana, a move that will see the bank's head office relocated to the capital city. The property was previously associated with Dariga Nazarbayeva.

The decision to purchase the Duman Hotel was announced by Rustam Karagoyshin, Chairman of the Board of Baiterek Holding. This acquisition is part of a strategic plan to centralize the bank's operations in Astana and utilize the existing infrastructure.

Why Relocate to Astana?

According to Karagoyshin, consolidating the bank's presence in Astana will enhance operational efficiency. He explained during a briefing that the Duman Hotel, having been returned to state ownership, presented a unique opportunity. While attempts were made to sell the property at auction, the price did not attract buyers.

The hotel's specifications, including its size and other parameters, were found to be a suitable match for Otbasy Bank's needs, particularly its requirement for specialized power capacities. The bank successfully won the bid through a competitive process, acquired the property, and transferred the funds to the state, effectively returning the money while securing a functional building for its headquarters.

Cost-Effectiveness of Acquisition

Karagoyshin highlighted that constructing a new office building would have been significantly more expensive. He noted that the book value of the Duman building made the acquisition financially attractive compared to the costs associated with new construction.

History of the Duman Hotel

The Duman Hotel was originally constructed in 2007. Records from May 2023 indicated that Dariga Nazarbayeva was the owner of 'Holdingovaya kompaniya DLS Group' LLP, which held shares in 'A-Service Management' LLP, the company managing the Duman Hotel complex at that time. It was confirmed in late 2024 that this and other assets were returned to Kazakhstan.

This information was reported by Infohub.kz.