Analysts at INFOLine research agency report a significant acceleration in the development of Kazakhstan’s retail real estate market. According to experts, 2025 marked a period of active commissioning of new retail facilities and increased investment activity across the sector.

According to the agency’s data, a total of 961 retail properties were commissioned nationwide in 2025, significantly exceeding the results of previous years. For comparison, 674 facilities were opened in 2024, while 917 retail properties were launched in 2023.

Modern retail supply remains largely concentrated in the country’s largest cities. The total gross leasable area of shopping centers in Kazakhstan is estimated at approximately 1.9 million sq. m, with around 1 million sq. m located in Almaty and about 500,000 sq. m in Astana. At the same time, development activity is gradually expanding into regional cities, indicating the growing diversification of the commercial real estate market beyond the two major metropolitan areas.

According to Ivan Fedyakov, Founder of INFOLine, investment volumes in shopping and entertainment center construction have reached their highest level in the past decade. Demand for modern retail space remains consistently strong, particularly in regional centers where a shortage of high-quality facilities continues to constrain retail market growth.

INFOLine estimates that the total number of retail outlets in Kazakhstan exceeded 200,000 in 2025. Food retail accounts for the largest share, with more than 70,000 stores nationwide. Approximately 45,000 outlets operate in the fashion retail segment, while the remaining share consists of non-food formats, including pharmacies, home goods and cosmetics stores, as well as fuel retail stations.