Cost of renting warehouse space is set to increase by one-third next year

The cost of renting an A-class warehouse is expected to rise by 29% in 2025, reaching 5,800 to 6,000 tenge ($11.11 to $11.49) per square meter. This year, rent payments ranged from 5,600 to 5,800 tenge ($10.73 to $11.11) per square meter (VAT and utilities excluded), reflecting a 20% increase from the previous year, according to IBC Real Estate.

At the same time, the amount of new warehouse space commissioned in Kazakhstan during the first 11 months of the year reached 191,000 square meters, nearly doubling last year’s figures. Some forecasts indicate that this figure will rise to 255,000 square meters by the end of the year. According to IBC Real Estate, this would represent a historic maximum, driven by high demand and the active expansion of warehouse portfolios by key market players. The total volume of new warehouse projects scheduled for 2025 is 277,000 square meters, a 9% year-on-year increase.

In 2024, warehouse projects were primarily concentrated in Almaty and Astana, which remain the key logistical hubs in the country. Companies expanding their warehouse properties include Focus Logistics, Damu Logistics, TechnoDom.kz, AIE Logistics and Old Service Logistics.

Evgeniy Bumagin, director general of IBC Real Estate Kazakhstan, believes that Kazakhstan’s warehouse property market is becoming more attractive to international investors due to the region’s transit potential and the active expansion of Russian marketplaces.

In early November, consulting company NF Group revealed that the warehouse market supply in Kazakhstan from January to September amounted to 1.55 million square meters, a 19.4% increase year-on-year. Kazakhstan is the largest market in Central Asia, with high logistics and warehouse service costs, averaging $191 per line meter per year.