ERG CEO Kudrat Shamiev buys Kairat Satybaldy's Baysat market for 24.8 billion tenge

September 7, 2026 at 10:55 AM2 min

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Kudrat Shamiev, CEO of Eurasian Resources Group's Kazakh unit, acquired Almaty's Baysat market at an August 7 auction for 24.8 billion tenge. The purchase was made through Central Trade Management Ltd., a holding company registered four months earlier. The market previously belonged to structures linked to Kairat Satybaldy and was returned to the state in January 2024.

Key Facts

The auction for Baysat market took place on August 7 on the Sauda portal, with a final price of 24,772,753,285 tenge.
The buyer was Central Trade Management Ltd., registered four months before the auction, with Kudrat Shamiev as its sole founder and director.
Kudrat Shamiev became CEO of TOO Eurasian Group, the Kazakh unit of ERG, on May 30, 2026, shortly after Shakhmurad Mutalip bought nearly 40% of ERG shares.
The market was returned to the state in January 2024 after a court found violations in its privatization and undervaluation.
The starting price for the market was reduced from 28.6 billion to 24.8 billion tenge after an auction in May was declared failed due to lack of bidders.

Auction and Purchase

The auction for Baysat market was held on August 7 on the Sauda portal. The object was sold for 24,772,753,285 tenge. The buyer was Central Trade Management Ltd., a company registered only four months earlier. The company's profile includes holding company activities and rental and operation of own or leased real estate. Its founder and director is Kudrat Shamiev, CEO of TOO Eurasian Group.

Market Background

Baysat market previously belonged to structures linked to the family of Kairat Satybaldy. In January 2024, a court ordered the asset returned to the state, citing violations in its privatization and undervaluation. The state tried to sell the market for almost a year, reducing the starting price from 28.6 billion to 24.8 billion tenge. An auction in May was declared failed because no one wanted to buy the object. The option of transferring the object free of charge to Almaty municipal ownership was even considered.

Shamiev's Career

Kudrat Shamiev was born in 1990 in Almaty region. He graduated from the College of the Academy of Banking in Almaty, then from Asia Pacific University in Malaysia. In 2025, he received a second higher education in Finance from Alikhan Bokeikhan University in Kazakhstan. He began his career at Malaysian Hikmet Travel, which organized trips for Muslims to holy places. From 2015 he worked at Altau Group, from 2017 to 2020 he headed Mangosteen Development, and then became deputy CEO of Naiza-Kurylys. In May 2020, Shamiev joined Integra Construction KZ, the largest Kazakh company for construction and repair of railways, which received 2.8 trillion tenge in state contracts for 2024-2025. In January 2024, he headed the supervisory board of Integra. On May 30, 2026, he became CEO of TOO Eurasian Group, the Kazakh unit of ERG, which manages Kazchrome, SSGPO, Aluminum of Kazakhstan, and other assets. The appointment came immediately after Shakhmurad Mutalip bought almost 40% of ERG shares.