Global Development

What Global Development does

Global Development (ТОО «Глобал Девелопмент») is a privately held Kazakh commercial real estate management company, founded in August 2003 and operating as a subsidiary within the Verny Capital diversified investment group. The company manages and leases a portfolio of four Class A and B+ business centers totaling more than 75,000 sq.m. of gross building area across Kazakhstan's two principal commercial markets: Talan Towers (a 30-story multifunctional complex in Astana's AIFC financial zone integrating offices with The Ritz-Carlton hotel and Talan Gallery retail), Park View Office Tower (Class A, Almaty's Golden Square), PRIME Business Park (Class B+, Almaty), and Pine Office Park (Almaty). Service offerings span Shell & Core, fitted offices, premium serviced offices (Talan Towers Executive Hub), and conference facilities in both cities.

The company's differentiator is its early-mover position in internationally certified green construction in Central Asia. Park View Office Tower and PRIME Business Park were the first buildings in Central Asia certified by BREEAM (2015), with Park View later upgraded to 'Excellent' in Building Management and 'Very Good' in Asset Performance. Talan Towers is the first LEED Gold-certified office tower in Kazakhstan and Central Asia (USGBC, 2018), and Park View is the first building certified under Kazakhstan's OMIR national green construction standard. Eco-efficiency systems are designed to deliver up to 35% operational cost savings, 27% lower employee illness rates, and 35% higher labor productivity.

The business model is direct enterprise leasing through in-house commercial departments in Almaty and Astana, with negotiated long-term contracts and quote-based pricing. The customer base spans large international and local corporations occupying full floors (1,200+ sq.m.) — including Takeda Kazakhstan, Starbucks, and other tier-1 multinationals — alongside SME and branch-office tenants served through the Executive Hub product (1–7-person offices). Revenue streams include recurring office leases, conference room rentals, serviced office subscriptions, and revenue participation from the Astana mixed-use complex (hotel, retail). Global Development has been awarded the BREEAM Awards 2019 Regional Award-Asia, the East Europe Real Estate Project Awards 'Management Company of the Year' (2017), multiple CRE Awards (2017, 2021), and the Green Office Awards 2022 'Best Green Office Kazakhstan'. Following the divestitures of the Capital (2019) and Tan (2020) business centers, the portfolio is concentrated around four premium assets in Kazakhstan's two largest commercial markets.

Name

Global Development

Legal name

ТОО «Глобал Девелопмент»

Website

https://gdc.kz

Company type

Private

Founded year

2003

Operating status

Operating

Short description

Global Development is a privately held Kazakh commercial real estate manager that leases and operates four Class A and B+ business centers totaling 75,000+ sq.m. across Almaty and Astana, serving enterprise tenants and SMEs with offices, serviced workspaces, and conference facilities distinguished by BREEAM and LEED green certifications.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Office Administrative Services (5611)

SIC

Operators Of Nonresidential Buildings (6512), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Office Property Management (BPAJAGAA)

akta.pro secondary industry

Workplace Hospitality & Office Services (Pantry, Refreshments, Supplies) (BPABAEAF)

Keywords

• Commercial real estate management
• Class A office leasing
• Green building offices
• Mixed-use property development
• Corporate workspace solutions

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Office Space Leasing: Primary revenue stream from leasing Class A office spaces across four business centers (Talan Towers, Park View Office Tower, PRIME Business Park, Pine Office Park). Revenue is generated through long-term commercial leases with various space configurations from Shell & Core to fully serviced offices.
2. Conference Room Rental: Rental of conference rooms and meeting spaces at Park View Office Tower (Almaty) and Talan Towers Executive Hub (Astana) with various seating configurations and equipment.
3. Serviced Office Solutions: Premium managed office solutions under Talan Towers Executive Hub brand offering all-inclusive workspace services for businesses of various sizes.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Global Development manages and leases a portfolio of four Class A and B+ business centers (Talan Towers in Astana, Park View Office Tower, PRIME Business Park, and Pine Office Park in Almaty) totaling over 75,000 sq.m. of office space. The company offers long-term commercial leases ranging from Shell & Core to fully fitted and serviced offices, conference room rentals in both cities, and premium all-inclusive serviced workspace under the Talan Towers Executive Hub brand for businesses of 1-7 employees. The portfolio is distinguished by BREEAM and LEED green building certifications.

Product overview

Global Development operates a portfolio of four Class A and B+ business centers totaling over 75,000 sq.m. across Almaty and Astana, Kazakhstan. The portfolio includes Talan Towers Offices (Class A, Astana), Park View Office Tower (Class A, Almaty), PRIME Business Park (Class B+, Almaty), and Pine Office Park (Almaty). Services include ready offices, shell-and-core spaces, and Executive Hub premium serviced offices at Talan Towers. Conference facilities are available in both cities. The company is a leader in green construction with BREEAM and LEED certified properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Talan Towers Offices Class A office tower within the Talan Towers multifunctional complex in Astana, offering ready offices, shell-and-core spaces, and Executive Hub serviced offices with LEED Gold certification. Located within the AIFC special financial zone.
• Park View Office Tower

Quantifiable outcome

• Up to 35% savings in operational costs compared to conventional buildings
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered major and flagship.

• Drees & SommermajorTechnology or Integration · 1 January 2015BREEAM-certified appraiser that conducted the certification process for Park View Office Tower. Performed building assessment resulting in 'very good' BREEAM rating.
• Turner InternationalflagshipStrategic or Co-development PartnerAmerican construction company that coordinated design and construction of Talan Towers project. Turner International has built iconic projects including Empire State Building and Burj Khalifa.
• SOM (Skidmore, Owings & Merrill)flagshipStrategic or Co-development PartnerAmerican architectural firm that served as architect for Talan Towers complex. SOM, founded in 1936, has completed over 10,000 projects in more than 50 countries and is known for Burj Khalifa, Freedom Tower, and Trump International Hotel.
• Perkins+WillmajorStrategic or Co-development PartnerBritish interior design company that designed the office center interiors for Talan Towers.
• The Ritz-CarltonflagshipStrategic or Co-development PartnerLuxury hotel operator within Talan Towers complex. The Ritz-Carlton Astana is the first five-star luxury hotel in Astana, part of the multifunctional Talan Towers development.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Skanska: Skanska is a global construction and real estate development company with a commercial property development arm. Comparable as a major international real estate developer with sustainability focus, though significantly larger and more diversified than Global Development.
• CBRE Group: CBRE is the world's largest commercial real estate services firm with broad advisory, property management, and investment capabilities. Relevant to Global Development as the dominant industry incumbent in commercial real estate, though CBRE primarily provides services rather than owning properties directly.
• Colliers International: Colliers International is a global commercial real estate services and investment management firm with operations across emerging markets. Comparable as a broad incumbent in the commercial real estate services industry.
• Cushman & Wakefield: Cushman & Wakefield is a global commercial real estate services firm with significant EMEA and emerging market presence. Comparable as a broad industry incumbent providing services that overlap with Global Development's tenant relationships and asset management function.
• JLL: JLL is a global commercial real estate services firm offering investment sales, leasing, and property management. Comparable as a broad industry incumbent with significant emerging market presence; relevant industry peer though different business model (services vs ownership).
• Knight Frank: Knight Frank is an international real estate consultancy with strong presence in emerging markets including Central Asia and CIS. Relevant industry peer with regional overlap in the markets Global Development operates in.

Direct peers

• Castellum: Castellum is a Swedish commercial real estate owner-operator managing a portfolio of office, logistics, and mixed-use properties across the Nordics. Comparable to Global Development as a property owner-operator focused on Class A commercial real estate, though operating in a more mature Nordic market.
• Hufvudstaden: Hufvudstaden is a Swedish property company owning prime office and retail properties in central Stockholm and a few other Nordic capitals. Closely comparable business model to Global Development: long-term ownership of prestigious Class A commercial assets in prime locations.
• Gecina: Gecina is a French REIT specializing in prime office properties and residential assets in the Paris region. Directly comparable to Global Development as an office-focused property owner with premium positioning and sustainability-led portfolio strategy.

Regional players

• ENKA İnşaat: ENKA is a Turkish construction and engineering company with extensive operations across CIS countries including Russia and Central Asia. Relevant as a regional player with construction and property development capabilities in markets adjacent to Global Development's footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Global Development