ASTANA — Kazakhstan’s Alatau City has broken ground on Iconic Complex, a multifunctional development set to become the city’s first skyscraper, with Deputy Prime Minister Kanat Bozumbayev attending the ceremony on Oct. 26, according to the Prime Minister’s press service.
The project, scheduled for completion by the end of 2029, includes two towers measuring 272 and 78 meters. Photo credit: Prime Minister’s press service. Click to see the map in full size. The map is designed by The Astana Times.
The project, with investments exceeding $800 million, includes two towers measuring 272 and 78 meters. The complex will house offices, residences, a hotel, retail facilities and public spaces. Construction is scheduled for completion by the end of 2029.
The city is gradually introducing a special legal regime intended to attract investment and establish a modern governance system. According to the press release, investment in fixed capital in Alatau reached 70.3 billion tenge (US$133 million) in the first nine months of 2026, a 1.6-fold increase. The city’s investment portfolio includes 67 projects worth approximately $6.9 billion, with the potential to create around 55,000 jobs.
Infrastructure development is also underway. Work is progressing on 28 projects supported by 35.3 billion tenge (US$ 78.2 million) from the state reserve. These include the reconstruction of the Kokpa-1 substation, water supply facilities and road repairs.
Bozumbayev said the project must be completed on schedule and meet high standards of quality and safety during the launch of construction of the first skyscraper on Oct. 26. Photo credit: Prime Minister’s press service.
Bozumbayev emphasized the need to meet construction deadlines and comply with seismic safety and energy-efficiency standards. He also called for the involvement of Kazakh companies and specialists.
Under its special legal regime, the city has introduced independent technical reviews of project documentation involving international experts, according to the statement.
“We expect Iconic Complex to set a new standard for design and construction quality and contribute to Alatau’s development as a modern city. The project must be completed on schedule and meet high standards of quality and safety,” Bozumbayev said.
China State Construction Engineering Corporation (CSCEC) is the general contractor, while the architectural concept was developed by the United States-based firm Skidmore, Owings & Merrill (SOM).
Building a new economic center
Iconic Complex is part of a broader effort to develop Alatau into a regional economic hub combining manufacturing, logistics, technology and finance. In a September analysis, The Astana Times examined whether Kazakhstan could build such a center from scratch, noting that the project’s success would depend on turning investment plans into sustained economic activity and effective governance.
The city’s location between Almaty and Konayev, near Almaty International Airport and major transport routes connecting China with Central Asia, the Caucasus, Europe and the Middle East, is central to the government’s economic rationale.
Yernar Serik, a trading and investment analyst interviewed for the analysis, said a new economic center could help diversify an economy in which much of the business activity, capital and human resources are concentrated in Almaty and Astana.
Economist Anuar Nurtazin, however, cautioned that investment announcements and company registrations alone would not demonstrate success. He said key indicators should include exports, technological supply chains, local production and productivity growth.
The analysis also highlighted the importance of infrastructure, predictable regulation and a skilled workforce in determining whether Alatau can develop into an independent economic center rather than an extension of neighboring Almaty.
The city’s development plans extend to 2040, with a long-term vision through 2055 being prepared with international firms ARUP and Boston Consulting Group.
