AYLAQ — Lakefront District
A district on the first line of the Kapchagay bay
Konaev, 28A Zheleznodorozhnaya St
About the asset
AYLAQ — Signature Lakefront Living District: a new-generation mixed-use district on an owned 11.8 ha site on the first line of the Kapchagay bay. Premium housing, commercial space, a hotel, education, sport and recreation share a single architectural concept. Gross building area is approximately 210,000–220,000 m².
Location
Connected to the region’s business centre via the Almaty — Konaev highway.
- Konaev centre10 min
- Almaty — Konaev highway600 m
- Almaty, business centre1 hour
- Coordinatesby address
Development concept
The project is delivered in three phases over 5–6 years. It comprises premium residential quarters, the Business Hub, a retail and entertainment centre and shopping gallery, a food hall and restaurants, a hotel, a school, a kindergarten, a sports and wellness centre, a central plaza, a landscape park, a promenade and the AYLAQ Observation Tower as the architectural landmark.
Market rationale
The first-line bay location offers direct access to the shoreline recreation zone, panoramic views and high liquidity. Per the initiator’s calculations: investment of USD 395M, potential revenue of USD 980M, EBITDA of about USD 420M, a project IRR of 22–25% and a 5–6 year payback. Exit routes range from sales of housing and commercial space to the sale of the hotel to an operator, a stake to a strategic investor or an IPO of a real estate fund (REIT).
Parameters
| Site area | 11.8 ha, owned |
|---|---|
| Gross building area | ≈210,000–220,000 m² |
| Phasing and timeline | 3 phases, 5–6 years |
| Total investment | USD 395M |
| Strategic investor / bank | 60% (USD 237M) / 40% (USD 158M) |
| Potential revenue | USD 980M |
| Gross profit | ≈ USD 585M |
| EBITDA | ≈ USD 420M |
| Project IRR | 22–25% |
| Payback period | 5–6 years |
| Investor return | 16–20% p.a. |
Transaction structure
Potential models of participation, presented for discussion. None is an agreed arrangement; the final structure is subject to negotiation and due diligence.
Equity participation in an SPV
Land is contributed to a project company, the investor contributes capital, and proceeds are distributed by shareholding.
Phased investment
Capital is deployed in stages as project milestones are met.
Operator partnership
Engagement of a specialist operator — hospitality, medical or logistics.
Development partnership
Landowner, developer and capital partner combine their capabilities in a single project.
Investment highlights
- 01First line of the Kapchagay bay with direct access to the shoreline recreation zone.
- 02An owned 11.8 ha site with about 210,000–220,000 m² of development in three phases.
- 03Project IRR of 22–25% on USD 395M of investment and USD 980M of potential revenue.
- 04Six exit routes, from residential sales to an IPO of a real estate fund (REIT).
Materials
Risk and due diligence
Request the investment memorandum
We will send detailed materials on the asset and discuss a possible model of participation. Data room access opens after an NDA is signed.