Why is this important
Transactions link foreign capital with a local major developer — in real estate — which can influence housing market strategy and the distribution of forces in the industry, especially in the residential construction segment.
What happened
- MF Trade will receive shares in Elsun Invest, NRG Yashnobod Stroy, and NRG High Project — companies operating in residential construction;
- The Committee analyzed the applications and believes that the transactions “do not directly affect the competitive environment” — they were approved without restrictions;
- Elsun Invest — authorized capital of 502.2 million soums; the largest shares belong to Abzal Batyrbay and Murad Nazarov;
- NRG High Project — authorized capital of 122 million soums, owners — Nazarov and Batyrbay;
- NRG Yashnobod Stroy, founded in 2023, has a charter capital of 3.99 billion soums (shares also belong to Nazarov, Batyrbay and other partners);
- MF Trade Limited was founded in Astana in August 2025, headed by Firdavs Muhammadkulov.
Context
Transactions are part of the trend of cross-border investments in the region’s real estate sector. Murad Nazarov is already known as a major developer, and the participation of foreign partners can accelerate the financing of projects.
The Competition Committee usually allows transactions if they do not lead to dominance or restrictions for other players.
