In Astana, LLP «City Transportation Systems» (CTS), which is responsible for the implementation of the «Astana LRT» project, has put assets worth billions of tenge up for auction.
According to MIA «Kazinform», the lots include land plots and buildings, including the unfinished «Birlik House» residential complex, consisting of two seven-storey buildings with a total area of 14,200 sq. m. The starting price of the lots is 3.28 billion tenge. The auction is scheduled for 9 September and will be conducted on an ascending price basis.
Additionally, land plots in various districts of the capital have been put up for sale:
- Saryarka district, 70/58, Nurğis Tilenşiev Avenue. Starting price — 267 million tenge;
- Yesil district, E125 Street, plot No. 6. Starting price — 62 million tenge;
- Yesil district, E388 Street, plot No. 17. Starting price — 39 million tenge.
CTS stated that the proceeds will be used to finance the construction of the LRT in Astana.
"In accordance with Article 341 of the Civil Code of the Republic of Kazakhstan, LLP «City Transportation Systems» was assigned the rights of claim securing the fulfilment of obligations. As part of the debt recovery under the assignment of rights of claim, the Partnership accepted the property that has been put up for sale to settle the debt," the company explained.
The LRT project has been under close public scrutiny for several years. It may be recalled that in 2021, seven individuals were convicted in a case involving embezzlement during the implementation of the «Astana LRT» project. The former deputy mayor of the capital, Kanat Sultanbekov, and the former head of the company «Astana LRT», Talğat Ardan, were placed on the international wanted list.
In 2023, LLP «City Transportation Systems», as the capital's transport operator, found itself at the centre of a scandal related to a lack of transparency in public procurement. At that time, the company unexpectedly changed its supplier, concluding a contract with LLP «Tolem Qy» without a tender, which caused dissatisfaction among residents and raised suspicions of violations.
The current auction is not the company's first major asset sale this year. Earlier, CTS had already conducted large-scale sales: in February, it sold a 98% stake in LLP «SAT Investment» for 9.52 billion tenge, and in May, it put assets worth 20 billion tenge up for sale, including dozens of land plots, commercial premises, parking spaces, and even a factory in Saint Petersburg.