Almaty buyers pay 563 million tenge for M. Park apartments left unbuilt

September 10, 2026 at 03:25 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Eighteen buyers fully paid 562,993,050 tenge for apartments in the second phase of Almaty's M. Park residential complex, but construction has not progressed beyond a foundation pit. They have filed a complaint with the Almalinsky district prosecutor's office. Residents of the first phase oppose the second building, demanding the land be used for a playground and parking instead.

Key Facts

Between 2024 and 2025, 18 buyers signed preliminary apartment purchase agreements for the second phase of M. Park with seller Golden Deal LLP, acting on behalf of Monumental Building LLP, totaling 562,993,050 tenge.
The buyers paid 100% of the apartment cost, but the construction site remains only a foundation pit overgrown with grass and shrubs.
The buyers filed a complaint with the Almalinsky district prosecutor's office and contacted Informburo.kz journalists.
The purchase agreements show different completion dates: June 30, 2026, December 31, 2026, and March 31, 2027.
First-phase residents demand the disputed land be used for a large children's playground and parking, not another multi-story building.

Unbuilt Second Phase

Between 2024 and 2025, 18 buyers signed preliminary apartment purchase agreements for the second phase of M. Park with seller Golden Deal LLP, acting on behalf of Monumental Building LLP. The total value of the signed agreements was 562,993,050 tenge. The buyers paid 100% of the apartment cost, but the construction site remains only a foundation pit overgrown with grass and shrubs. The purchase agreements show different completion dates: June 30, 2026, December 31, 2026, and March 31, 2027.

Buyer Complaints

The buyers filed a complaint with the Almalinsky district prosecutor's office and contacted Informburo.kz journalists. Buyer Natalya Veselkova said that even taking the latest date, the house will definitely not be built in time. The buyers regularly call and write to the sales department, but are told there is no cause for concern and that construction will accelerate once the APZ is obtained.

First-Phase Residents' Opposition

Residents of the first phase of M. Park insist that the disputed land should be used for a large children's playground and parking, not another multi-story building. The conflict centers on the future use of the territory where the second-phase building was planned.