September 2026 for KazSMU: 1 apartment sold, 1 new project in the register. Sales by residential complex and city, new projects, completion dates, unsold stock and ranking among developers, according to the state register of shared-equity construction.
Unsold apartments in the register — 418. At this month's pace they will last more than 10 years: supply here clearly outpaces demand.
1 project with 50 apartments entered the register — more than were sold during the month (1). When they entered the register, the new projects already listed 3 apartments as sold.
KazSMU accounts for 0% of the net increase in new-build sales across Kazakhstan.
KazSMU’s sell-through is 14%, 18 pp below the national average (32%).
11% of KazSMU’s projects are being built with second-tier bank participation (BVU), 89% with a KHC guarantee and 0% under an akimat permit (MIO).
In September 2026, KazSMU marked 1 apartment as sold in the state register of shared-equity construction. In August 2026, the net sales increase was 0. KazSMU has 9 projects in the register in total, with 484 apartments, of which 66 are sold and 418 remain on sale. Its share of the national net sales increase was 0%.
The month’s sales were recorded in Almaty, in Zhetysu district. The leader was Maxima City, where +1 apartment was sold. In Konaev, where the developer has 3 projects, sales growth for September was 0.
1 new project entered the register: Maxima City (plot 2) with 50 apartments and planned completion in July 2027. At the time of entry, 3 apartments in the new projects were already listed as sold. Most of KazSMU’s projects are in the economy class (8 projects). By number of rooms, 2-bedroom apartments make up the largest share of the remaining stock (203), while 3-bedroom units are selling fastest (28% sold).
Buyers should check completion dates: the nearest planned completion is scheduled for July 2027. KazSMU’s sell-through is 14%, 18 pp below the national average (32%). Protection schemes are distributed as follows: 89% of projects are being built with a KHC guarantee, 11% with second-tier bank participation (BVU) and 0% under an akimat permit (MIO). The Salemdom score based on state register facts is 26.8 out of 100.
For investors and buyers, the main fact is the large stock of supply: at the current sales pace, the 418 unsold apartments would last more than 10 years. In September 2026, KazSMU ranked 41st among 43 developers with sales in the register. The choice of layouts is concentrated in the economy class, where +1 deal was recorded during the month.
Commentary prepared by Salemdom AI strictly from the issue's figures.
From 1 to 30 September 2026, according to the state register of shared-equity construction, KazSMU marked 1 apartment as sold.
KazSMU has 9 projects in the register (3 residential complexes): 484 apartments, of which 66 sold (14%), with 418 still on sale.
1 property was added to the registry this month.
By new sales in September 2026, KazSMU ranks 41st among 43 developers with sales in the register.
Salemdom score based on state register facts: 26.8 out of 100; 9 projects in the register in total, the first one about 5 years ago. The score is calculated from state register facts: scale, experience, timelines, demand, transparency and supervision; the BVU, KHC and MIO schemes are treated as equal.
For August 2026, the net sales increase for KazSMU was 0 (gross: 0); for September 2026, it was +1 (gross: 1). The comparison covers the same projects that were in the register in both months.
Weekly sales were uneven: the most were on September 22–30 (+1). Developers often record deals in batches, so weekly spikes reflect how they work with the register, not just demand.
| Week | Net sales growth |
|---|---|
| September 1–7 | 0 |
| September 8–14 | 0 |
| September 15–21 | 0 |
| September 22–30 | +1 |
Ranking by the growth of apartments sold in the registry for September 2026. These are transactions recorded by the developer in the registry; please note that the contract date and the registry entry date may differ by a few days.
| ЖК | Developer | District | Sold this month | Remaining |
|---|---|---|---|---|
| Maxima City | KazSMU | Zhetysu District | +1 | 418 |
1. Maxima City (KazSMU), Zhetysu district: +1 apartment over the month. Sell-through: 14%, with 418 of 484 still on sale. Scheme: KHC, BVU. Registered class: economy. Nearest planned completion: July 2027.
During the month, 1 KazSMU project with 50 apartments entered the shared-equity construction register. Inclusion in the register means the developer has received permission to raise equity holders’ funds and may officially sell apartments during construction.
| ЖК | Developer | Scheme | Apartments | Scheduled completion |
|---|---|---|---|---|
| Maxima City (Block 2) | KazSMU | КЖК | 50 | July 2027 |
11% of KazSMU’s projects are being built with second-tier bank participation (BVU), 89% with a Kazakhstan Housing Company (KHC) guarantee and 0% under an akimat permit (MIO). New sales this month: BVU — 1, KHC — 0, MIO — 0.
| Scheme | Properties | Net sales growth |
|---|---|---|
| Bank involvement (Second-tier banks) | 1 | +1 |
| KZHIK Guarantee | 8 | 0 |
| Akimat (local executive body) permit | 0 | 0 |
By registered class, most of KazSMU’s projects are economy (8 projects). Most of this month’s sales were in the economy class: +1. The registered class is set by the developer under the state comfort standard; the marketing class used in a complex’s advertising may differ.
| Class | Properties | Net sales growth | Apartments remaining |
|---|---|---|---|
| Economy class | 8 | +1 | 418 |
Most of KazSMU’s unsold apartments are 2-bedroom: 203. 3-bedroom apartments are selling fastest: 28% sold. Room data is from the register as of 10 October 2026; area is the typical range across projects (the median and the middle half of projects around it), excluding input errors.
| Rooms | Apartments | Sold | Remaining | Sold-out rate | Typical area |
|---|---|---|---|---|---|
| 1 | 185 | 11 | 174 | 6 % | 34.9 m² (34.9–35.3) |
| 2 | 242 | 39 | 203 | 16 % | 53.4 m² (53.4–57.8) |
| 3 | 57 | 16 | 41 | 28 % | 61.7 m² (61.7–72.8) |
KazSMU residential complexes under the BVU scheme (equity holders’ money goes through a bank) with at least 50 apartments still on sale and sales this month. This combines buyer protection with a choice of layouts.
| ЖК | Developer | Sold this month | Sold-out rate | Remaining |
|---|---|---|---|---|
| Maxima City | KazSMU | +1 | 14 % | 418 |
According to the state register of shared-equity construction, KazSMU marked 1 apartment as sold.
Maxima City — +1. Figures show the increase in apartments sold in the register over the month.
The registry includes 1 property with 50 apartments: Maxima City (plot 2) (KazSMU).
According to the register, 418 of 484 apartments are unsold (sell-through 14%). At this month's pace, the remaining stock will last more than 10 years.
The register lists no KazSMU projects with a planned completion date before the end of the year.
11% of projects involve a second-tier bank, 89% have a KHC guarantee and 0% are built under an akimat permit. The scheme for each residential complex is listed on its page under “Guarantees”.
No new entries for KazSMU appeared in the official list of unscrupulous developers in September 2026.
From the state register of shared construction (homeportal.kz). Salemdom saves a complete snapshot of the register daily; this digest compares snapshots from August 31, 2026, and September 30, 2026. Prices are sourced from developers' catalogs on Salemdom.
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Methodology: monthly sales are the increase in the "sold" field in the register for projects that were in the register at the start of the month. Decreases (cancellations, corrections) are shown separately. If a developer temporarily reset the number sold to zero and restored it the following month, this counts neither as sales nor as cancellations. New projects are those that entered the register during the month; sales already recorded when they entered the register are not included in the month's sales. Sell-through and remaining stock are as of the end of the month.
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