A groundbreaking ceremony marking the start of construction of Iconic Complex, a multifunctional development, was held in Alatau. The project envisages the construction of offices, apartments, a hotel, a shopping centre and public spaces. The complex is set to become one of the key developments in the city’s emerging business district.
The architectural concept for Iconic Complex was developed by US-based architectural firm Skidmore, Owings & Merrill (SOM). China State Construction Engineering Corporation (CSCEC) has been appointed as the project’s general contractor.
Financing and international investment cooperation were also among the key topics addressed at the event.
Timur Suleimenov, Chairman of the National Bank of the Republic of Kazakhstan, highlighted the role of institutional investors in delivering long-term projects and the importance of cooperation between Kazakhstani and international partners.
“Through the National Investment Corporation, the National Bank is participating in this project and contributing to the development of Alatau. Our involvement reflects the role of a Kazakhstani institutional investor in supporting initiatives of national significance and bringing together domestic and international partners to deliver long-term projects,” - said Timur Suleimenov.
According to the project’s initiators, the planned investment in Iconic Complex exceeds $800 million. Completion is scheduled for the end of 2029.
The development of Alatau’s business district will go hand in hand with the construction of the city’s utility and transport infrastructure. Work is currently underway to modernise power supply systems, construct water supply facilities and repair roads. These infrastructure improvements are intended both to support new investment sites and to enhance residents’ quality of life.
Iconic Complex is among the major investment initiatives being implemented in Alatau. Overall, the city’s investment portfolio comprises 67 projects with a total planned investment of $6.9 billion. Their implementation has the potential to create approximately 55,000 jobs.
Read more: https://alataucity.kz/en/news-construction-begins-on-iconic-complex-in-alatau.html