Kazemir Aktau to participate in Cityscape 2007

The project stretches over 35 million square meters of land on the magnificent shores of the Caspian Sea in Kazakhstan.

This announcement comes after the official inauguration of its Aktau City Project held last September under the patronage of the President of Kazakhstan Nursultan Nazarbayev. Attending the inauguration through private invitation by the President was His Excellency Sheikh Abdullah Bin Zayed Al Nahyan - Minister of Foreign Affairs in the UAE, Sheikh Sultan Bin Tahnoun Al Nahyan - Chairman of the Board of Abu Dhabi Cultural and Heritage Authority, Ministers, local State Officials, international and local business community leaders and other esteemed guests, witnessing the symbolic launching of the development of the new Aktau City.

The Project will turn this city into a year round destination in a bid to benefit from and promote the prosperous economic developments of Kazakhstan. The project offers lucrative investment opportunities in the rapidly growing economic boom of Kazakhstan, reflecting on its strategic location and proximity to Kazakhstan major seaport and the gas and oil production areas.

As the Master Developer of the Project, Kazemir Aktau has officially appointed Millennium Development International (MDI) as the principal development strategists and development manager of the Project. Millennium is the urban development management arm of Saraya Holdings, itself specializing in hospitality real estate development, investments and property management.

Commenting on their participation in this international exhibition, Ziad Abu Ragheb, Chairman of the Board, Kazemir Aktau said: "We are eager to have a strong presence that reflects our vision. The exhibition will provide us with an opportunity to interact with regional and international investors alike, therefore enabling us to elaborate on our vision and introduce the investment opportunities to the local and international investors. The Project constitutes a mixed use city, targeting the rapidly growing economies of oil, gas, freight, transportation and tourism within the city of Aktau.

He further elaborated,

"We will be launching the infrastructure works to service the first phase of the project stretching over 35% of the total land area. The project is targeting a population of one million people with an approximate value of $40bn."

Highlighting the significance of the project, Kazemir Group Advisor Mr. Amangeldy Makhashov stated that "We are proud to be Kazakhstan's premier master developer of the Caspian Sea city of Aktau and to be contributing to the positioning of Kazakhstan as professional and world class investment hub for international and local investors in the real estate industry."

It is noteworthy to mention that this project will be planned and implemented as per consecutive phases targeting various districts such as the central business district, the leisure and touristic district, the cultural district, the medical district, the academic district, the convention and fairs district among many others.