Astana Office Market: High Occupancy and Strong Focus on Class A
According to Colliers Kazakhstan analytics, Astana’s office real estate market continues to demonstrate resilience and a moderate occupancy level, despite the slowdown in rental rate growth.
The total stock of high-quality office space in Astana amounts to 634,000 sq. m (GLA). A significant share of supply is represented by Class B offices, which account for around 50% of the market. However, Class A remains the most sought-after segment among tenants.
The weighted average occupancy rate across the market reaches 87%. In the Class A segment, occupancy stands at approximately 70%, showing positive momentum driven by limited new supply and sustained demand from large companies.
The weighted average rental rate is around KZT 14,536 per sq. m per month, while prime Class A+ rates can reach up to KZT 45,564 per sq. m (including OPEX and VAT). The highest rental levels are recorded in the city’s key business districts, particularly Yesil and Nura.
Colliers experts note that in the short term, the market is expected to develop under conditions of stabilizing demand. The key growth driver remains the shortage of high-quality office space, alongside increasing interest from government and international companies.