AKIPRESS.COM - Construction in Kazakhstan is one of the key sectors of the economy and one of the most attractive investment areas. This sector accounts for 5.6% of Kazakhstan’s GDP, and in terms of employment, the construction sector provides over 620 thousand jobs, according to the FinReview report.
Kazakhstan’s moderate economic growth trends observed after the global crisis of 2015 had a positive impact on the construction sector. The increase in the volume of completed construction work in nominal terms since 2012 is on average 10%. At the same time, the largest increase was recorded in 2016 – 13.9%, which was largely facilitated by the construction of facilities of the International Exhibition EXPO-2017.
According to the results of the eleven months of 2019, the country completed construction work in the amount of 3.7 trillion tenge, an increase of 13.6% compared to the same period in 2018. Growth is observed in all main types of activities – the volume of construction and installation works increased by 11.4% (up to 3.2 trillion tenge), the growth of overhauls amounted to 16.9% (up to 279.3 billion tenge), and current repairs – 15 % (up to 265.6 billion tenge).
The most ambitious projects are the construction of transmission devices (gas pipelines, oil pipelines, etc.). For the eleven months of 2019, the volume of work and services performed amounted to 879.7 billion tenge.
Further, the most voluminous projects include the construction and repair of roads, railways and landing strips at airfields – the total cost amounted to 619.7 billion tenge. The top three large-scale projects are completed by the construction and repair of industrial buildings – the construction volume amounted to 522.2 billion tenge.
Less popular projects are the construction and repair of agricultural buildings (26.6 billion tenge) and the construction of hotels and restaurants (24.7 billion tenge).
Half of the volume of construction work falls on 4 regions – the cities of Nur-Sultan and Almaty, as well as Atyrau and Karaganda regions