ORLEU — Flagship Site
A “city within a city” cluster anchored by the ORLEU Sphere immersive venue
Konaev, 33 D. Kunaev Ave
About the asset
The flagship asset of the portfolio: a 22.7442 ha site on D. Kunaev Avenue with an adjoining 1.9000 ha plot. The ORLEU (“Dawn”) concept covers 22.41 ha and creates Konaev’s first “city within a city”: housing, a hotel, a business centre, an outlet and a mall, a school and a kindergarten, and a park with an artificial lake. At its core is ORLEU Sphere, the first immersive science-and-entertainment venue in Central Asia, with 18,000 m² of space.
Location
Connected to the region’s business centre via the Almaty — Konaev highway.
- Konaev centre10 min
- Almaty — Konaev highway600 m
- Almaty, business centre1 hour
- Coordinates43.8702, 77.0705
Development concept
The project is delivered in two phases. Phase I on a 7.64 ha plot comprises a 63,360 m² multifunctional residential complex, the 18,000 m² ORLEU Sphere, a 240-key hotel, a business centre, a covered car park, a park and food zone, a school for 630 pupils and a kindergarten for 120 children. Phase II adds a 12,000 m² outlet centre, a retail and entertainment centre, a 40-house cottage village, a 500-seat banquet hall and a greenhouse complex. Over 30% of the site is given to greenery and recreation.
Market rationale
Key drivers are the growth of the Almaty — Konaev agglomeration, the development of the Kapchagay shoreline tourism cluster, state support for Konaev and the shortage of quality housing and commercial space. Combining sales with long-term operation of ORLEU Sphere, the hotel, the business centre and retail gives the project two income streams. The initiator estimates asset value on completion at over EUR 311M.
Parameters
| Site area (cadastral) | 22.7442 ha |
|---|---|
| Adjoining plot | 1.9000 ha |
| Area within the ORLEU concept | 22.41 ha |
| Phase I plot | 7.64 ha |
| Phase I buildings with stated area | 138,953 m² |
| Stage | Concept, master plan and ORLEU Sphere architectural design |
| Investment (master plan) | ≈ EUR 232M |
| Asset value on completion | over EUR 311M |
| Investor return | 16–20% p.a. |
| Payback period | 6–8 years |
| Financing structure | 60% investor / 40% bank |
| Phases I–II horizon | by 2030 |
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
- 01Konaev’s first “city within a city” on a single site of over 22 ha within the city limits.
- 02ORLEU Sphere — an 80 m sphere and a 1,800–2,000-seat hall, the first immersive venue of its kind in Central Asia.
- 03Two income streams: residential sales and long-term operation of the hotel, business centre, retail and ORLEU Sphere.
- 04Expected investor return of 16–20% p.a. through participation in an SPV.
- 05Own social infrastructure: a school for 630 pupils, a kindergarten, sports and SPA.
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.