Fitnation in Astana has become cheaper by almost a billion tenge: the complex is for sale again

Tengrinews.kz — The Fitnation sports complex in Astana, surrendered to the state by Kairat Boranbayev, has been put up for sale again—this time at a significant discount. Following an initial failed attempt, the starting price has been slashed by nearly one billion tenge. Tengrinews.kz explores the details of the new auction terms, the current state of the complex, and the history of its transfer to the city administration.
What is being sold at the auction
A listing for the sale of the Fitnation sports and wellness center, located at 4/1 Turan Avenue, has reappeared on the e-Qazyna.kz electronic trading portal.
According to appraisal documents, the lot includes:

A building with extensions totaling 4,000 square meters.
510 units of equipment (including gym machines and sports zone fittings).

The lot description explicitly notes that the land plot is not included in the price.
The Fitnation building. Photo from e-Qazyna.kz
Fitnation was long positioned as a premium fitness club. The interior features spacious gym and cardio zones, swimming pools, a spa complex, as well as administrative and office spaces.
Price cut by 874 million: New auction dates announced
The first attempt to sell the complex at auction failed. Initially, Fitnation was listed for electronic tender with a starting price of 2,913,037,603 tenge (compared to an appraised value of 2.9 billion and a book value of 1.7 billion tenge). However, the auction scheduled for October 15 did not take place due to a lack of bids.
As a result, the city administration decided to lower the price by nearly 874 million tenge and scheduled a new auction:

New starting price: 2,039,126,323 tenge.
Date and time of the repeat tender: November 3 at 10:00 AM.
Format: Electronic tender (participants submit price offers in sealed electronic envelopes via the e-Qazyna.kz portal).

Rehabilitation center and 5-year encumbrances for the new investor
After the complex was transferred to the state balance sheet, the Astana Akimat utilized its facilities for social needs: Fitnation became a rehabilitation site for children with special needs.
At the time, city authorities assured the public that the facility's sports and wellness profile would be maintained. However, prior to the sale, parents of children with special needs and coaching staff expressed concerns that the unique accessible environment and recovery programs could be jeopardized once under private ownership.
To protect the complex's social purpose, the Akimat included restrictions for the future buyer in the tender conditions, which will remain in effect for five years:

The new owner is required to maintain the primary business activity of the facility—physical education, wellness, and rehabilitation work aimed at encouraging public sports participation.
The complex may be used exclusively as a sports or fitness and wellness facility.

How Boranbayev lost the Fitnation network
The Fitnation fitness club network was transferred to state ownership as part of the restitution for damages in the criminal case against Kairat Boranbayev.
In September 2023 the court sentenced Boranbayev to 6 years in prison for embezzlement and money laundering involving KazTransGas JSC. The court also ordered the confiscation of his property and recommended he be stripped of state awards.
The following assets were confiscated from Boranbayev:

A two-story commercial building with a land plot located between Esentai Mall and the Esentai Tower business center in Almaty, valued at 686 million tenge;
1.3 billion tenge in a Halyk Bank account;
5.7 million dollars (2.7 billion tenge) in a Halyk Bank account;
1.17 million dollars (560 million tenge) in a Halyk Bank account;
756 million tenge in a Halyk Bank account;
193 million tenge in a Halyk Bank account.

A few days before the sentencing, it was revealed that Boranbayev had voluntarily returned assets to state ownership worth over 90 billion tenge in Kazakhstan. These include:

The "Karazhanbas Northern" oil field, which includes 143 wells with reserves of 2.6 million tons of oil and 13.2 million cubic meters of gas, with an estimated value of 35.4 billion tenge;
The gas distribution company "Asia Gas Chundzha," involved in the transport and sale of commodity gas, with a market value of approximately 14 billion tenge;
the KazTurboRemont Service Center, a plant for the production and repair of oil and gas equipment, with an estimated value of over 9 billion tenge;
a 4-star hotel in the center of Astana valued at over 1.4 billion tenge;
the Almaly shopping and entertainment mall, the Fitnation fitness center chain and office space in the Almaty Towers business center with a total value of 33.8 billion tenge.