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Baiterek Holding launches 100 billion tenge leasing program for farmers

29.09.2021

Baiterek Holding and Singapore-based SJ Group to cooperate on smart city project

Baiterek Holding and Singapore-based SJ Group to cooperate on smart city project

On September 29, 2021, during the visit of the Singaporean delegation to Kazakhstan, top managers of Baiterek Holding met with the heads of the Singapore-based Surbana Jurong Group. They discussed potential cooperation on the G4 City urban development project.

The meeting was attended by Aidar Arifkhanov (Chairman of the Management Board of Baiterek Holding), Anuar Omarkhodzhaev (Deputy Chairman of the Management Board), Timur Zhanke (Managing Director and a member of the Management Board), Abai Sarkulov (the head of the Development Bank of Kazakhstan), Gaukhar Buribayeva (the head of the Damu Entrepreneurship Development Fund), Rustam Isaev (the head of the Kazakhstan Housing Company). The Singaporean delegation was represented by Wong Heang Fine (the CEO of SJ Group), Nina Yang (the CEO of SJ CityGlobal), Liu Hongwei (Director of SJ CityGlobal), and others.

Aidar Arifkhanov told his Singaporean colleagues about the measures the Holding’s subsidiaries are taking to support large, medium-sized, and small businesses and develop housing construction.

The Holding and its subsidiaries support investment projects that contribute to the sustainable development of the country's economy, including projects with foreign participation, – said Aidar Arifkhanov.

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Wong Heang Fine, the CEO of SJ Group, presented the G4 City project, which is being implemented on the initiative of Nursultan Nazarbayev, the First President of Kazakhstan. According to Mr. Wong, G4 City is expected to be a smart city consisting of four thematic areas located along the Almaty-Kapchagay highway. This highway connects G4 City with Western China and enjoys the strategic advantages of the One Belt One Road Initiative. SJ Group was hired as a strategic partner to develop an advanced, structured concept for the G4 City master plan.

We believe that the project will be the driving force for the development of Kazakhstan’s economy in such sectors as logistics, agro-industrial complex, tourism, construction and others. By 2050, G4 City will create more than one million new jobs and be home to 2.1 million residents, – said Wong Heang Fine.

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The parties decided to discuss the cooperation and determine mutually beneficial areas of work once the master plan is approved by the Government of Kazakhstan.

Surbana Jurong Group is a Singaporean state-owned company (a member of Temasek Holdings, the largest state-owned investment company in Asia) that has extensive experience in master planning and building cities delivering a full life cycle of infrastructure and urban development. The company has contributed to the construction of Singapore, the city of Suzhou in China, the city of Haiphong in Vietnam, and many more.

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