In November, Forbes Kazakhstan published its traditional "Landlord Ranking - 2024".

Shareholder Serik Tolbasy entered the TOP-3 largest owners of commercial real estate in Kazakhstan in 2024.

This year, the ranking included 15 landlords. The assessment considered shopping centers, malls, and business centers in Astana, Almaty, and Shymkent. The first stage involved compiling a registry of shopping and business centers, followed by identifying the ultimate beneficiaries of these properties. Afterward, the buildings were grouped by ownership.

According to Forbes Kazakhstan, the top 15 largest landlords in the country own 61 commercial real estate properties. Of these, 33 are business centers, and 28 are shopping or shopping and entertainment centers. Almaty accounts for 38 properties, Astana for 21, and Shymkent for 2.

Serik Tolbasy

• Estimated revenue: 21.6 billion tenge
• Developer/constructor/management company: TS Development
• Properties: In Almaty — Dostyk Plaza Mall; in Shymkent — Shymkent Plaza Mall
• Total commercial area: 82,000 sq. m

Ranked 39th among the wealthiest businessmen of Kazakhstan by Forbes Kazakhstan, Serik Tolbasy owns Dostyk Plaza in Almaty and Shymkent Plaza in Shymkent, with a combined area of 182,700 sq. m.

According to the official website of Dostyk Plaza Mall, in 2023, foot traffic increased by 13.9% to 13.7 million people, while turnover grew by 25.4%.

You can view the full ranking via the following link:
https://forbes.kz/articles/15-krupneyshih-vladeltsev-kommercheskoy-nedvizhimosti-v-kazahstane-d9b2c3