The project, the construction of which was financed by Turkish investors jointly with Development Bank of Kazakhstan JSC (DBK, a subsidiary of the Baiterek National Management Holding JSC), has already become a brand of Turkestan. In the center of the ancient city, one more small town appeared, offering a journey both into the past and into the future. On the bright streets of Karavansaray Turkistan, you can not only walk, but also take a boat trip along the water channel that runs through the entire complex. Despite the negative impact of the pandemic around the world, Kazakhstan has great potential for the development of domestic and foreign tourism. Especially promising in this direction is the city of Turkestan, located in the very center of the Great Silk Road and the spiritual capital of the Turkic world.
“Turkestan is a historical and spiritual city, where the mausoleum of Khoja Ahmed Yasawi, respected by all Turkic peoples, is located, where a large number of tourists and pilgrims come. That is why our project is being implemented here, where visitors can visit sacred places and relax in the Karavansaray Turkistan complex. After all, there is water, and cozy corners, and places where various shows are held. All this is convenient for both adults and children - shared the General Manager of the Karavansaray Turkistan complex Cetin Pehlivan.
Development Bank of Kazakhstan participates in financing important infrastructure projects of the country in various sectors of the economy, thereby helping to develop the regions of Kazakhstan. It is worth noting that the Turkestan region is one of the densely populated regions of the country (2 million people), while the level of wages is one of the lowest in the country, at 166.7 thousand tenge (the lowest among the regions).
The launch of Karavansaray Turkistan is aimed at the socio-economic development of the entire region. Thanks to its launch, over the next 20 years, the budget will receive more than 18 billion tenge of tax deductions. During the construction period, about 1000 jobs were created for local residents. During the operation of the complex, the number of people employed in the service sector will reach 700 people, who will be represented by specialists: hotel employees (reception, waiters, cooks, maids, masseurs, managers, administrators), employees of the entertainment complex (acrobats, dancers, trainers, artists, administrators and managers of the children's entertainment center), service employees (security, cleaning, equipment adjusters). The complex will provide permanent jobs for local residents who have undergone appropriate training, have higher education and knowledge of languages. As part of the exchange of experience and the formation of world standards in the service sector, foreign specialists in the field of show productions from France were involved.
By leasing retail space to small and medium-sized businesses, it is planned to open more than 70 retail outlets, which in turn will create an additional number of jobs and provide conditions for doing business at the level of world standards. At the moment, lease agreements have already been concluded and there are preliminary agreements with such trade brands as Sulpak, Magnum, Global coffee, LCW, Europharma, Sandyk restaurant, Coffee Boom, Evim, FLO, Salam Bro, etc. By the end of 2021, it is planned to ensure the occupancy rate of rental premises at the level of 63%, by 2022 at the level of 90-100%.
If, according to historical data, the Turkestan region was visited by about 800 thousand people a year, including about 150 thousand people for tourist purposes (mainly for a pilgrimage period of 1 day), then, taking into account the opening of the Karavansaray tourist complex, an increase in tourists is expected to reach 1 million people, while Turkestan and Karavansaray should be visited by more than 200 thousand people a year, with a gradual increase to 300 thousand people a year. At the same time, the implementation of the project will create an impetus for the development of pilgrimage, gastronomic, historical and educational tourism with a stay of at least 3 days. For the convenience of tourists, 2 hotels with different concepts were built, one of the family format "Khaganate" (76 rooms, 4 *), the cost per room is from 28 to 63 thousand tenge per day, as well as the hotel "Kun" (37 rooms, 5 *) single travel format, cost per room from 60 to 85 thousand tenge per day.
In 2018, Turkestan received the status of a regional center, which contributed to the intensive development of the city. New neighborhoods, an administrative center, cultural and sports facilities, and a new international airport have appeared. The launch of a new tourist center will have a multiplier effect on the development of entrepreneurship in such areas as logistics, passenger transportation, catering services, production and sale of souvenirs and many other initiatives.
Already, the tourist complex Karavansaray Turkistan attracts not only local residents, but also guests from other cities and regions.
“We visit Turkestan every year to worship the holy places. But this time the whole family specially came to see Karavansaray - says a resident of Almaty Timur Khabitov, a visitor to the complex. - Children are full of delight! And our grandmother is very interested. And my wife and I like everything here! This is a really great project!"
The cost of the project was 87 billion tenge, the borrower's, i.e. Turkistan Silk Way Harbor LLP's own participation is 47 billion tenge (54% of the total project cost), the participation of DBK is in the amount of 40 billion tenge, of which 30 billion is the Bank's funds raised in the local market , at market rates, the remaining 10 billion tenge (11.4% of the project cost) was provided through a budget loan. Construction and installation works were carried out at the expense of the Bank, equipment for the tourist complex was purchased. The construction of Karavansaray was carried out during the period of quarantine measures in compliance with all necessary sanitary and epidemiological safety measures.
“Development Bank of Kazakhstan already has a successful experience of cooperation with foreign investors in financing the Bank's projects. In particular with German, Turkish and Chinese investors. So, to date, DBK has implemented 2 investment projects with Turkish participation: the Karavansaray Turkistan tourist complex of Turkistan Silk Way Harbor LLP and the Rixos Water World Aktau multifunctional hotel and tourist complex in the Mangistau region. Another 4 projects are under consideration,” said Baltabek Kusainov, Senior Banker of the Directorate for work with clients.
