On September 7, 2024, Dostyk Plaza celebrated its 10th anniversary, summarizing its impressive achievements and unveiling ambitious plans for the future. Over the past decade, Dostyk Plaza has not only become one of the largest and most visited shopping centers in Kazakhstan, but has also played a key role in the cultural and social life of Almaty, DKnews.kz reports.
A Success Story and Cultural Influence
Since its opening in September 2014, Dostyk Plaza has been an important part of the city's infrastructure, attracting not only shopping enthusiasts but also art and culture lovers. The center was designed by the renowned British architecture firm BENOY, known for projects such as Ferrari World in Abu Dhabi, Elements in Singapore, and Westfield in London. This collaboration created a unique space where culture, innovation, and comfort meet.
Vlad Semeonov/Dostyk Plaza
To mark its tenth anniversary, Dostyk Plaza organized a series of cultural events. On September 6 and 7, visitors could attend art lectures by Olga Baturina, discussing the interaction between people, cities, and art. In addition, a special exhibition was presented featuring 35 paintings that reflect Almaty's rapid architectural development. The highlight of the exhibition was a piece by the famous Kazakh artist Alexey Utkin, depicting Dostyk Plaza as one of Almaty's modern landmarks. This painting was donated to the A. Kasteev State Museum of Arts, underlining the center's contribution to the city's cultural life.
In addition to exhibitions and lectures, the anniversary celebrations included musical performances, stilt walkers, living statues, and modern interactive entertainment, culminating in a concert by the Tynda Music Symphony Orchestra. These events vividly demonstrate how Dostyk Plaza integrates culture into the daily life of its visitors.
Record Achievements and Impressive Statistics
In its ten years of operation, Dostyk Plaza has achieved remarkable success. The total area of the shopping center is 134,000 square meters, with 57,000 square meters dedicated to retail space. The center houses over 200 tenants and offers 1,300 parking spaces, making it one of the largest shopping malls in Kazakhstan.
Vlad Semeonov/Dostyk Plaza
According to Alexey Hegay, a partner at TSPM, the center receives more than 13.5 million visitors annually, with a total turnover of an impressive $272 million last year. This highlights Dostyk Plaza's importance as not only a shopping destination but also one of the key players in Kazakhstan's retail industry.
Dostyk Plaza has been recognized multiple times as the best shopping center in Kazakhstan. In 2021, it was awarded the title of "Best Large Shopping Center" by Central Asia Awards, acknowledging its significant contribution to retail and commercial real estate development in the country.
Contributions from Tenants and Partners
One of the key factors behind Dostyk Plaza's success is its long-standing partnerships with a diverse array of tenants. These strong relationships make the center a reliable place for long-term collaborations.
For instance, Alexander Olivier Henry, one of the founders of the French bakery La Tartine, emphasized that over the last ten years, they have faced many challenges and victories together with Dostyk Plaza. The bakery continues to thrive in the mall and has extended its lease for another seven years, further underscoring the stability of this partnership.
Vlad Semeonov/Dostyk Plaza
Madina Zhakupovna Shakhbutova, General Director of the Galmart supermarket chain, also highlighted the significance of this anniversary, noting that Dostyk Plaza's success is the result of the hard work and professionalism of its team, as well as its ability to overcome any challenges alongside its tenants.
A New Chapter: Transfer of Assets to REIT TSPG
One of the most significant events of 2024 for Dostyk Plaza was the inclusion of part of its assets in REIT TSPG, Kazakhstan's first real estate investment trust operating under the regulatory framework of the Astana International Financial Centre (AIFC). This move is a key step toward the sustainable growth of the company and attracting institutional investors.
Almas Idrisov, CEO of REIT TSPG, noted that the fund's plans are ambitious. In the coming years, REIT TSPG plans to expand, including the construction of new shopping centers and the acquisition of existing properties. The main focus will be on Almaty and other major cities in Kazakhstan. The company's portfolio is expected to grow, with NOI (Net Operating Income) projected to exceed $100 million. In the next 2-3 years, REIT TSPG plans to achieve a high credit rating and is considering the possibility of an IPO, further solidifying its position in Kazakhstan's and neighboring countries' real estate markets.
Ambitions for the Future
Dostyk Plaza continues to evolve and set ambitious goals. In the coming years, the company will focus on maintaining high levels of customer service, improving infrastructure, and creating a comfortable and modern environment for its visitors and tenants.
Alexey Hegay emphasized that the main task of Dostyk Plaza remains caring for its clients, tenants, and partners. The mall’s attention to service quality, innovation, and constant pursuit of excellence ensures that Dostyk Plaza remains a leader in Kazakhstan's retail sector.
The slogan for the center's anniversary perfectly captures its vision for the future: "Dostyk Plaza — 10 years, and the journey is just beginning!"
