OREANDA-NEWS. Astana-Nedvizhimost JSC (Astana), which is a listing company at Kazakhstan stock exchange (KASE), has disseminated a press release, saying that on November 2 of 2007 a working meeting took place in Kokshetau within "New city" project, in which the following persons participated: Akim of the Akmola region Majit Ecenbayev, Chairman of Executive committee of Astana-Nedvijimost JSC Boranbay Sabyrjanov, Chairman of Board of Directors of Astana-Nedvijimost JSC Kintal Islamov, architect of Bar Belgian company Jan Veynance, Director of YTL Power Chris Chong (Malaysia). Astana-Nedvijimost JSC is the initiator and
developer of the project.

According to the message, the project stipulates for stage-by-stage construction of housing for 50-80 th. people. The first stage is estimated for 10-12 th. residents and provides for building of trading and entertainment centers, hotels, aqua park, yacht club, sport fields. Capital for construction of schools, child preschool institutions, a cultural house will be provided by the local authorities.

According to the company's information, a joint stock company will be created in the near future for design, corrections, and implementation of the general plan of district's building up. The representatives of Astana-Nedvijimost JSC, Astana-Finance JSC and some investors will enter the new joint stock company.

The given project is developed by the Belgian architectural firm -  BAR. The total volume of investment required for project implementation exceeds USD320 mln.

"For us, it is also a "break-through" project; there has not been such global and big projects in our practice yet, and we approach it in a very responsible and even anxious way. We are going to apply all our gained experience and to build really modern, comfortable and well-furnished New city," Chairman of Executive committee of Astana-Nedvijimost JSC, Boranbay Hadgymuratovich Sabyrjanov was quoted as saying.