In the Almaty district of Astana, on the banks of the Ishim River, a residence with an area of 8,000 m² is being built. It has become known that the land plot of 640 acres belongs to the company of Timur Kulibayev - Kipros LLP.
According to the Telegram channel "Access to the Sea", the construction is taking place next to an existing residence and the estates of former president Nursultan Nazarbayev.
It is reported that the company "Kipros" controls three land plots on the bank of the Ishim River with a total area of 200,000 m². The first plot houses a residence, the second is under construction, and the third plot is as yet undeveloped.
It is noted that the market value of one acre of land in this area is around 10 million tenge. Thus, the estimated value of the land plots alone could reach 20 billion tenge.
For context, in March 2024, it was reported that in Switzerland the Vaud cantonal court prohibited the redevelopment of the Fleur du Lac hotel, which is owned by the eponymous company Fleur du Lac SA, belonging to Timur and Dinara Kulibayev.
In May, Timur Kulibayev sold a London property on Upper Grosvenor Street to the investment company North Wind Capital. According to journalists, the transaction amount was 35 million pounds sterling (22.5 billion tenge).
In January, it was reported that Kulibayev owns an estate with an area of nearly 4.5 hectares in the Spanish town of Mont-Roch Baixa. The estimated value of the property is around €10 million (5.3 billion tenge).