On October 26, construction officially commenced on Iconic Complex in Alatau City, a large-scale mixed-use development set to become one of the key landmarks of Kazakhstan's new city.
Projects of this scale often extend far beyond conventional construction. They attract investment, create jobs, stimulate infrastructure development, and establish new centres of business and economic activity. We explore why cities develop such landmark buildings and complexes, the economic benefits they generate, and how their impact continues long after construction is completed.
To begin, it is important to consider the broader economic significance of the construction sector.
The construction industry plays a vital role in the global economy, not only by delivering residential, commercial, and infrastructure developments but also by generating demand for industrial products, transportation, engineering, financial, and other services.
Moreover, the economic impact of construction extends well beyond the development phase. Once operational, office buildings, retail centres, hotels, and other mixed-use complexes become platforms for business growth, investment attraction, and the creation of permanent employment opportunities.
Iconic Complex in Alatau City: establishing a new centre of economic activity in Kazakhstan
International experience clearly demonstrates that large-scale mixed-use developments can have a substantial impact on the economies of cities and individual urban districts.
For example, following the full completion of Hudson Yards, its annual contribution to New York City's economy was estimated at nearly USD 19 billion, with approximately 55,800 permanent jobs expected to be created.
In London's King's Cross district, employment more than tripled over a ten-year period, while residential property prices per square metre increased by 112% between 2011 and 2021.
Today, more than 120,000 people work in Canary Wharf on a daily basis, while ICC Sydney generated AUD 746 million in event delegate expenditure for the New South Wales economy during the 2025 financial year alone.
Kazakhstan is now pursuing a project based on a similar mixed-use development concept in the newly established city of Alatau.
The project in question is Iconic Complex, which is expected to become one of the flagship developments of Alatau City, Kazakhstan's emerging city of the future.
Iconic Complex is a major mixed-use development integrating office, hospitality, residential, retail, and public infrastructure.
According to the project specifications, the complex will have a total gross floor area of more than 292,000 square metres, including approximately 227,000 square metres of above-ground space. The development will occupy a 12.6-hectare site.
The architectural centrepiece of the complex will be the 272-metre-tall, 53-storey T2 Tower, accommodating Grade A office space, a five-star hotel, and premium residential apartments.
In addition, the project includes a separate 78-metre residential tower, six low-rise office buildings designed for corporate headquarters, a retail complex featuring shops, restaurants, and entertainment venues, as well as a central landscaped plaza.
According to project estimates, the main tower will provide more than 37,000 square metres of leasable office space, while the low-rise office buildings will offer an additional approximately 27,000 square metres.
Retail space will total nearly 24,000 square metres.
More than 2,000 parking spaces are planned for visitors, employees, and residents, while landscaped green areas will account for approximately one-quarter of the development site.
Particular attention has been given to integrating the complex into Alatau City's future transportation network.
The retail and public areas have been designed with consideration for the planned light rail transit (LRT) lines and express rail connections.
The architectural concept draws inspiration from the natural landscape of the Trans-Ili Alatau mountain range, while the design of the high-rise structures incorporates advanced seismic-resistant construction technologies.
Iconic Complex is therefore envisioned not merely as a standalone real estate development but as an integral component in establishing Alatau City's new central business district.
The combination of corporate offices, hospitality facilities, residential accommodation, retail outlets, and public spaces will create favourable conditions for business concentration, sustained demand for services, and increased commercial activity.
International experience demonstrates that mixed-use developments of this kind can serve as powerful drivers of economic growth and play a significant role in the development of emerging urban areas.
Read more: https://energyprom.kz/articles-ru/industries-ru/bolshaya-strojka-kak-vsego-odin-kompleks-sposoben-obespechit-gorodu-do-3-vvp/