Kazakhstan has officially launched construction of Iconic Complex, a landmark development set to become the first skyscraper in the emerging city of Alatau.

The project, valued at more than $800 million, will feature two towers and a mix of residential, commercial and hospitality facilities, Qazinform reports.

A groundbreaking ceremony was held with the participation of Deputy Prime Minister Kanat Bozumbayev.

The Iconic Complex project envisages the construction of two towers measuring 272 meters and 78 meters in height. The multifunctional development will include offices, residential units, a hotel, retail outlets and public spaces, making it one of the main projects in Alatau’s emerging business district.

Construction is scheduled to be completed by the end of 2029.

Bozumbayev said the development of Alatau remained under the close supervision of President Kassym-Jomart Tokayev. A special legal regime is being introduced in stages to attract investors and establish a modern system of city governance.

Investment activity in Alatau has been increasing alongside the city’s development. In the first nine months of 2026, investment in fixed capital rose 1.6 times to 70.3 billion tenge.

The city’s overall investment portfolio includes 67 projects worth nearly $6.9 billion, with the potential to create around 55,000 jobs.

Infrastructure upgrades are also underway to support new developments. Work is progressing on 28 projects, backed by 35.3 billion tenge from the reserve fund. Key initiatives include reconstructing the Kokpa-1 substation, building water supply facilities and repairing roads.

China State Construction Engineering Corporation (CSCEC) is the general contractor for Iconic Complex, while the architectural concept was developed by US-based firm Skidmore, Owings & Merrill (SOM).

Bozumbayev emphasized that the project must meet strict construction quality, seismic safety and energy efficiency standards. He also called for Kazakh companies and specialists to be involved in the work.

A mechanism for independent technical reviews of project documentation, involving international experts, has been introduced under Alatau’s special legal regime.

“We expect Iconic Complex to set a new standard for design and construction quality and contribute to Alatau’s development as a modern city. The project must be completed on schedule while meeting stringent quality and safety requirements,” Bozumbayev said.