The Audit Commission of Astana conducted a state audit of the activities of Elorda Damu LLP and Elorda Qurylys Kompaniasy LLP for 2023–2024. The inspection covered 61.8 billion tenge in budget funds allocated for resettlement from dilapidated housing, the construction of social homes, and the completion of problem properties. The audit results revealed numerous financial and managerial violations, which led to significant losses for the budget and shareholders.
According to Bes.media, the commission meeting took place on 4th December with the participation of maslikhat deputies, relevant departments, and representatives of two authorised organisations. Auditors noted that, despite outwardly positive indicators, the companies systematically violated the norms of budgetary, urban planning, and architectural legislation, making errors in both the planning and implementation of projects.
It emerged that Elorda Damu, responsible for eliminating dilapidated housing stock and relocating residents under the Renovation Programme, commissioned 11 buildings with a total area of 159,000 sq. m. in the period 2020–2024 and handed over 870 apartments to the city.
However, the audit revealed discrepancies in the founding documents, a mismatch between stated goals and actual activities, and incorrect calculations in financial and economic models, which necessitated the return of 1.2 billion tenge to the budget.
Meanwhile, Elorda Qurylys Kompaniasy, established to complete long-term construction projects and build new facilities, provided housing to over 16,000 shareholders, commissioning 45 residential complexes between 2018 and 2024. At the same time, the audit identified the inefficient use of budget investments totalling over 14.5 billion tenge.
In addition, the inspection uncovered instances of unjustified provision of interest-free loans to third-party organisations, depreciation of bonds, and disputed payments to employees amidst unprofitable operations. Particular concern was raised by the company's unfulfilled obligations under loan agreements, which by the end of last year had reached 114 billion tenge.
The quality of construction supervision also drew criticism. Some facilities were operated without approved commissioning certificates, and both design and technical supervision were carried out improperly.
Auditors recorded instances of using outdated standards, incorrect preparation of project documentation, and overestimation of construction costs. Certain developers brought in to complete long-term projects failed to meet their obligations, leading to additional losses for the city and shareholders.
The report also showed a notable decline in the rate of housing commissioning. While in 2020 Elorda Damu completed 56,000 sq. m., by 2024 this volume had dropped to 10,000 sq. m. The volume of housing transferred to municipal ownership also decreased by 5.5 times.
Following the inspection, the commission recorded financial violations totalling 16 billion tenge, inefficient planning of assets and budget funds amounting to 12.6 billion tenge, and inefficient use of state resources totalling 38.4 billion tenge. Lost profits and potential state losses were estimated at 1 billion tenge.
Materials relating to 34 instances were submitted to the authorised bodies for consideration of bringing those responsible to administrative account. The companies received binding recommendations to rectify the violations and adjust financial and organisational processes.
Separately, the Audit Commission presented data on violations in the formation and execution of Astana's 2024 budget. The total volume of violations amounted to 216.5 billion tenge, nearly half of which was linked to inefficient planning.
In the course of 15 audit activities, covering 48 budget facilities, more than a thousand procedural violations and 168 systemic deficiencies were identified. Materials on nine cases were submitted to the authorised bodies, and 74 officials were held disciplinarily accountable.