BAKU, Azerbaijan, Dec. 28
By Nargiz Sadikhova - Trend:
New Karavan-Saray multifunctional tourist complex will be constructed in Kazakhstan’s Turkestan region via funding by Development Bank of Kazakhstan JSC (DBK), Trend reports citing DBK.
The total cost of the project is 87 billion tenge ($207.1 million), while the value of the DBK loan amounted to 40 billion tenge ($95.2 million). The Bank's financial resources will be used to purchase equipment, as well as for construction and installation work.
The deal was implemented as part of the Comprehensive Plan for the social and economic development of the Turkestan region until 2024.
The Karavan-Saray tourist complex will be the largest project in the region, where tourists will be able to get acquainted with the history of Turkestan, the culture of Kazakhstan, historical figures and national sports.
The future multifunctional tourist complex will include two premium hotels, designed for 115 rooms, shopping and family entertainment centers, with a capacity of 300,000 people per year, as well as a panoramic attraction, spa centers, a cinema and a food court. The total area of the buildings will be 59,870 square meters. The investment project is planned to be commissioned in the 1Q2021, the customer is Turkistan Silk Way Harbor LLP.
The launch of a new tourist center is expected to have a multiplier effect on the development of the region, providing a positive impulse to the development of pilgrim tourism, gastronomic tourism, as well as entrepreneurship in such areas as logistics, passenger transportation services, visits to historical monuments, catering services, sale of souvenirs and many other business initiatives.
Turkistan Silk Way Harbor LLP is a development company established by the Turkish company FTG and the company KIDF (Kazakhstan Investment Development Fund (KIDF) Management Company Ltd.), which take an active part in the development of the tourism industry of the Republic of Kazakhstan, having previously jointly and successfully implemented the first domestic resort project on the coast of Aktau (Rixos Water World).
Development Bank of Kazakhstan JSC (DBK) is a national institute for modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001. Main areas of activity: development of industrial infrastructure and manufacturing, promotion and attraction of foreign and domestic investments in the country's economy.
DBK is one of the largest investment operators of state programs of industrial and innovative development.