Kazakhstan’s emergence as a strategic investment destination is increasingly supported by a rapidly evolving real estate sector—one that is aligning with international standards while reflecting regional ambition.
At the center of this transformation is Łukasz Skowroński, CEO of Global Development, who has been based in Kazakhstan for the past 14 years and has played a key role in shaping the country’s premium office market. With more than 20 years of experience in real estate, Skowroński describes a market defined by strong occupier demand and growing international integration.
“In both Almaty and Astana, vacancy in prime office buildings is effectively close to zero,” he said. “This reflects structural demand from international companies establishing and expanding their presence in Kazakhstan. The market is no longer about the availability of space, but about the quality of space.”
A Market Defined by Quality
Global Development’s strategy has centered on quality over quantity, an approach that has positioned its portfolio as the preferred base for global corporations operating in Kazakhstan. According to Skowroński, more than half of Fortune 500 companies in the country are headquartered in the company’s buildings, highlighting the firm’s strength in the premium segment.
“We focus on quality and on working with market leaders,” he said. “Our focus has always been on quality and long-term partnerships with blue-chip tenants. Today, more than half of Fortune Global 500 companies operating in Kazakhstan are based in our buildings.”
This focus has also translated into long-term stability. The company currently operates with effectively zero vacancy and maintains a waiting list of tenants, an uncommon position in global real estate markets.
Sustainability as a Core Strategy
A defining feature of Global Development’s portfolio is its emphasis on sustainability, which Skowroński says has evolved from a marketing tool into an operational necessity.
“Sustainability is no longer a marketing feature—it has become a core operational requirement for international tenants,” he said.
Buildings certified under BREEAM and LEED standards not only align with ESG goals but also deliver tangible cost savings.
“Certified buildings are not just about ESG alignment. They deliver measurable efficiencies, lower energy and water consumption, better indoor environments, and ultimately higher employee productivity. For global companies, this directly translates into both cost optimization and long-term value.”
Kazakhstan’s Strategic Position
Beyond real estate fundamentals, Skowroński points to Kazakhstan’s broader geopolitical and economic positioning as a key advantage.
“Kazakhstan is increasingly positioning itself as a natural bridge between Europe and Asia, both geographically and economically,” he said.
This role has been reinforced by steady GDP growth, population expansion, and the country’s emergence as a regional hub for multinational operations.
“We see more international companies establishing regional hubs here, managing operations across Central Asia and beyond. This is gradually redefining Kazakhstan’s role on the global business map.”
Looking Ahead: Smart Cities and Expansion
Skowroński sees continued opportunity in large-scale, sustainable developments, from next-generation business districts to integrated mixed-use environments tailored to evolving corporate needs.
“We are particularly interested in projects that combine scale with long-term sustainability,” he said. “The next phase of development will not be about building more—it will be about building better.”
As Kazakhstan continues to strengthen its position as a regional business hub, its real estate sector is evolving in parallel, becoming more institutional, more sustainable, and increasingly aligned with global standards.
For Skowroński, this transformation is clear: “Kazakhstan today offers something increasingly rare—a market that is still growing, yet already capable of delivering international-standard real estate. In real estate, quality always wins over time—and Kazakhstan is entering that phase now.”
