Eurasia Shopping and Entertainment Center Continues to Operate as Usual — TSPM. Comment
The Eurasia shopping and entertainment center, located on the right bank of Astana, continues to operate as usual. The mall remains open to visitors, while tenants continue their business activities without changes, according to the management company TSPM.
The comment comes amid public discussions regarding the future of the property. The company emphasized that no reconstruction is planned for 2026 and that Eurasia remains one of the key retail facilities on the capital’s right bank.
The mall came under the management of a new team following a 2025 transaction, when the asset was acquired by Kazakh entrepreneur Serik Tolbassy, the main shareholder of the REIT TSPG investment fund.
The fund’s portfolio includes major properties such as Dostyk Plaza in Almaty and Shymkent Plaza in Shymkent — among the country’s most notable shopping and entertainment centers.
Following the change of ownership, ensuring stable operational performance and building systematic engagement with tenants became key priorities.
“Eurasia remains an important retail and public space on the right bank. For us, it is essential to maintain the stable operation of the facility and provide comfortable conditions for our partners. The mall continues to operate as usual, and we stay in constant contact with tenants, keeping them informed on all key matters,” the management company stated.
Development of a New Concept
Alongside day-to-day operations, the project team has begun work on a long-term development concept for the retail space.At this stage, design work is being carried out in cooperation with leading international and Kazakh architectural bureaus. They are involved in analyzing the site’s potential and developing various development concepts for the property.
According to the company, several development scenarios are currently under consideration, aimed at improving the quality of urban public spaces and advancing the district’s modern retail infrastructure.
“High-quality urban development requires a well-balanced approach. We are currently at the analytical and conceptual stage, working jointly with international architectural bureaus and obtaining the necessary permits for different modernization options. Once this phase is completed, the optimal model for the site’s future development will be determined and presented to the public. Until then, Eurasia will continue to operate in its usual mode for both visitors and tenants,” the company explained.
A Historic Retail Location
The area where Eurasia is located has been used for trade since the times of Tselinograd. For decades, markets and retail facilities operated here, shaping steady consumer activity on the city’s right bank.
Today, Astana’s Almaty district is the most densely populated in the capital. According to the city administration, more than 400,000 people live here, while the average annual population growth exceeds 6%, significantly higher than the citywide average.