Capital Partners

Capital Partners is a real-estate developer from Almaty. Forbes Kazakhstan, interviewing Serzhan Zhumashov in January 2015, says he and Burak Oymen created the company in 2001 and that they hold 60% and 40% of it. The company's own wording, in its Almaty opening release of November 2013, is "an international real estate developer" whose roots are "firmly in Almaty". Its two Ritz-Carlton houses were run by The Ritz-Carlton Hotel Company. [1,3]

Moscow: The Intourist Site, Sold In 2011

Forbes Kazakhstan says the company bought the rights to the Tverskaya site in 2004 from Red Square Development. It cut the room count from 450 to 334 and spent $280 m against a planned $180 m. The opening has two dates. Wikipedia gives 1 July 2007, after construction from 2005 to 2007. Forbes Kazakhstan gives December 2006, with Mayor Yuri Luzhkov present, yet also says construction ended in autumn 2007. Both readings are printed here. [1,2]

The sale was reported on 11 May 2011 by Kommersant and Tengrinews, which named Capital Partners as seller and Bulat Utemuratov as buyer. The price is given four ways: "не менее $350 млн" as an experts' estimate (Kommersant); $350 m (KazTAG, cited by Tengrinews); about $700 m, paid by Verny Capital (RBK Daily, cited by Tengrinews); and about $600 m to Verny Capital (Forbes Kazakhstan; Wikipedia). The house is now LHL-H-855 The Carlton, Moscow. The group no longer owns it. [1,2,5,6]

Almaty: Esentai Tower

The Ritz-Carlton, Almaty opened on 4 November 2013 with 145 rooms. It occupies the top of a 37-storey tower, and The Ritz-Carlton Residences take the upper floors. The release places it in Capital Partners' "Esentai Park development", beside a mall and housing. Business Traveller reported it that day. [3,4]

The Moscow Times, in November 2012, said work on the 52,000 m² Esentai Mall began in 2006, was put "on hold" in 2008 and resumed in 2011; the mall had opened the month before. Forbes Kazakhstan puts total investment in tower, hotel, residences and mall at about $1 bn, of which more than $350 m was loan interest. In May 2016 the same magazine reported that Zhumashov had sold 50% of Esentai Tower and Esentai Mall to Kairat Boranbaev, price undisclosed. [1,7,11]

Mountain, Caspian And Aegean

In 2015 Forbes Kazakhstan said Capital Partners owned and managed the Shymbulak ski resort above Almaty, and had run two Renaissance hotels, at Atyrau and Aktau, under an agreement with Marriott. A Kazakh business site, in August 2026, names Chimbulak Development as Shymbulak's operator, with ТОО «Кэпитал Партнерс Казахстан» and Vladimir Sarybekov among its participants. [1,12]

Kaplankaya is a peninsula near Bodrum. Forbes Kazakhstan said in 2015 that design was ready in 2006, that work resumed in 2014, and that the first phase, a Canyon Ranch hotel with villas and a marina, was due by June 2016. Canyon Ranch's release of October 2015 gave 141 rooms and a July 2016 opening, and named Hasan Arat as chairman of Capital Partners' executive board. Six Senses later took over management. Forbes Kazakhstan dated the official opening as Six Senses Kaplankaya to 1 May 2018. [1,8,9,10]

Editorial note — ⚑ The Moscow opening is either 1 July 2007 or December 2006; Forbes Kazakhstan's own text conflicts with its December date. ⚑ The Moscow price is given as at least $350 m, $350 m, about $600 m and about $700 m. ⚑ Kaplankaya's land is "over 40 ha" in 2015 and 480 ha in 2018. ⚑ The 60/40 split is a 2015 figure; by 2018 Forbes says only that Zhumashov holds a "крупной долей". ⚑ The 2026 source names him "Сержан Жумаш"; the register keeps Zhumashov. ⚑ Whether American Spa's "Capital Partners of Turkey" is the Almaty company is not established. The register's reading: Capital Partners is held as the builder of LHL-H-855, not as its owner.