Apr 23, 2026
Construction
is set to begin in May and is scheduled for completion by 2029–2030.
The
Iconic Towers skyscraper in Alatau will be built by Alatau City Iconic Complex,
a company linked to businessman Yuriy
Tskhay. Forbes Kazakhstan was informed of this by the Alatau mayor’s office in
response to a request from the editorial staff.
When
will Iconic Towers be built and how much will it cost
Construction
is scheduled to begin in May 2026. According to preliminary information, the
estimated project duration is four years, meaning the skyscraper should be
commissioned by the end of 2029 or early 2030. The mayor’s office explained
that pre-project and design-survey work is currently underway.
“This
work is being carried out using private investment and on a plot of land owned
by a private investor. The project developer is Alatau City Iconic Complex
LLP,” said Borihan Abdibayev, deputy akim of the city.
According
to data from eGov, Alatau City Iconic Complex LLP is owned by Alatau City
Properties LLP. The latter has three founders: Caspian Group (owned by Yuriy
Tskhay), Yury Tskhay, and Alatau Development Holding Ltd.
According
to previously announced figures, investments in the project exceed $800
million. However, the final cost and its place in the city’s investment program
have not yet been determined, Deputy akim Abdibayev clarified.
At
the same time, as explained by the Ministry of National Economy, there are no plans
to finance the construction using state budget funds. The bulk of the capital
expenditures for the project will be covered by private investment.
“As
part of the Iconic Complex skyscraper construction project (officially named
Iconic Towers), the state’s participation will focus on developing supporting
infrastructure, including utility networks and transportation access, as well
as ensuring a favorable legal and regulatory environment,” noted Deputy minister
Bauyrzhan Omarbekov.