Ayana Holding and NAS Holding forms strategic partnership with Government of Kazakhstan

Ayana Holding and NAS Holding forms strategic partnership with Government of Kazakhstan

In his recent visit to the UAE, the Kazakh Prime Minister signed US$900m worth of agreements to better cooperation between the two countries, highlighting various industry projects, including construction

Dubai, UAE — As part of a government meeting between Alikhan Smailov, Kazakhstan Prime Minister and H.E. Suhail Mohamed Al Mazrouei, Minister of Energy in UAE the Prime Minister presented Emirati investors with a list of new investment projects worth over $6.5bn in multiple industries including construction, with a bid to better economic cooperation with the UAE.

As an integral part of this agreement, Dubai-based Ayana Holding has announced that it will be joining hands with Nad Al Shiba Holding LLC and Kazakh Invest National Company for the construction of a multifunctional residential and commercial complex, The Grand Mosque Residences, in Astana, the capital city of Kazakhstan. The cost of the first phase of the project is estimated at US$576 million, and the total cost of the project is US$2 billion.

Prime Minister Smailov stated that the Government of Kazakhstan is ready to provide the necessary assistance in the implementation and maintenance of the construction of the complex. Both parties have agreed to continue work on the transition and practical implementation of the project.

Ayana