Artemiy Pestovsky
Artemiy
Pestovsky
Partner. Director, Offices & WI
A top manager with many years of expertise in commercial real estate, investments, and property management. He graduated from the Faculty of Law and began his career in brokerage and consulting services, handling transactions related to leasing, sales, and management of commercial real estate.
Since 2020, he has been working at the international consulting company Bright Rich | CORFAC International, which has been supporting corporate and private clients in office and industrial-warehouse real estate transactions—including leasing, buying, selling, and investing—in Kazakhstan and abroad for 18 years. Artemiy has progressed from junior consultant to partner of the company. Today, he is responsible for business development, key client relationships, and managing investment projects.
During his career, he has completed transactions totaling over 300,000 sq. m, working with both international and local companies, including Leroy Merlin, DNS, DPD, Zammler, DHL, ACCA, Yandex, Bonduelle, Carlsberg, Dodo Brands, and others.
In his work, he focuses on creating comprehensive solutions for developers, investors, owners, and tenants, improving property efficiency, and minimizing risks.
Almaty Office Real Estate Market: 2025 Results
The Almaty office real estate market in 2025 demonstrated stable growth. Key trends included a low vacancy rate, rising rental rates, and steady demand from businesses, particularly for high-quality office spaces in central city areas.
By the end of the year, the total volume of Almaty’s office market reached approximately 1.6 million sq. m. In 2025, 33.8 thousand sq. m of new office space was added, which is lower than the previous year’s figure. Among the new developments were the Element Tower, Trapiche, Dial Plaza, and Farabi Hub business centers, primarily in the B+ segment.
Despite the limited volume of new construction, business activity in the market remained high. The total volume of office real estate transactions in 2025 reached 125 thousand sq. m. Most demand came from the rental segment, with mid-sized offices—from 500 to 1,500 sq. m—being the most sought after. Smaller office spaces up to 500 sq. m also accounted for a significant share, reflecting the activity of small and medium-sized businesses.
By office class, the largest share of transactions was in class B—around 41%, followed by class B+ at 39% and class A at 20%. By industry, trading and manufacturing companies, the IT sector, as well as consulting and financial organizations, were the most active in the rental market.
A key feature of the market remained the low vacancy rate, which stood at around 2.8% at the end of 2025. Limited availability of quality office spaces combined with high demand contributed to an increase in rental rates—on average, they rose by approximately 12% compared to 2024.
Average rental rates in 2025 were approximately 25,460 KZT per sq. m per month for class A offices, 17,385 KZT for class B+, and 12,535 KZT for class B.
The serviced office and coworking segment is also developing separately. Currently, Almaty has about 59 thousand sq. m of flexible office spaces, accommodating roughly 7,000 workstations. Most of this market is represented by local operators offering flexible rental formats for companies of various sizes.
In 2026, the volume of new supply is expected to increase, with over 85 thousand sq. m of office space potentially entering the market. Given the current level of demand, it is expected that the market will remain stable, and high-quality office spaces in the city’s business districts will continue to enjoy strong demand.