Investment Projects

Wellness hotel

  • Indicator Results
  • Investment amount, thousand US dollars 19 217
  • NPV of the Project thousand, US dollars 2 026
  • IRR, % 22%
  • EBITDA yield, %
  • Payback period, years 6,69
  • Discounted payback period, years - - 14,43


The complex offers its services to residents and guests of East Kazakhstan region, as well as tourists from neighbouring countries. Upon reaching full design capacity with a room inventory of 126 rooms of various categories, the annual number of visitors is expected to reach 40 880 people. The complex also provides additional services such as a restaurant, spa treatments and medical procedures, with medical services available on request.


The project envisages the construction of the Wellness Resort sanatorium and health complex in the Katon-Karagai district of East Kazakhstan region.

The Wellness Resort will comprise a hotel complex, a medical department, a spa centre, a restaurant and administrative premises.

Additionally, there are plans to construct tennis courts, a gym, walking alleys and parking facilities for cars.


The private company TOR'RE ALTAY LTD was established for the implementation of this Project. The head of the Company has experience in the hospitality sector and the implementation of such hotel projects as the apart-hotel YE'S Astana, Wyndham Residences Aqkol, etc.


  • In 2020, the volume of tourism industry in Kazakhstan decreased by 34.2% compared to 2019 and amounted to 7.7 billion USD. The main reason for the fall was the COVID-19 pandemic and the quarantine measures introduced. After the pandemic, the market grew by 23.4% in 2021 and 17.9% in 2022. According to Kazakh Tourism, in 2021, Kazakhstan ranked 66th out of 117 countries in the World Travel and Tourism Development Index, ahead of Montenegro (67), Morocco (71), Kyrgyzstan (90). According to Marketline forecasts, by 2027 the volume of the tourism market in Kazakhstan in value terms will be 16.7 billion USD, an increase of 49% compared to 2022.
  • In 2022, accommodation facilities in Katon-Karagay leisure resorts served roughly 5,467 tourists. In 2018-2022, CAGR for accommodation facility income in Kazakhstan was 48%, and 23% in aton-Karagay leisure resorts in 2019-2022 amounted to 48%, and the CAGR of income in 2019-2022 in the Katon-Karagay resort area was 23%.
What is the attractiveness of the project?

  • Tourism development in East Kazakhstan region. The development of tourism in East Kazakhstan region is supported by its vast potential, featuring a variety of natural and cultural attractions and an attractive geographical location. The region boasts tourist draws such as the Altai Alps, the Bukhtarma Reservoir, the Kiin-Kerish tract, the Markakol Nature Reserve and numerous museums. In 2022, approximately 90 thousand tourists visited the resort areas of East Kazakhstan region.
  • State support: The government actively supports tourism in Kazakhstan, compensating costs to purchase equipment and build tourist facilities.
Investment proposal

The Project requires investment of 19,217 thousand USD (at the rate 449.2 tenge), of which:

  • 80% (15,374 thousand USD) – debt financing subject to collateral;
  • 20% (3,843 thousand USD) –investor participation.

The proposed financing structure and state support measures are indicative. The final financing structure and Project interests will be determined based on the results of negotiations with the investor.

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