Building a warehouse in Almaty without leasing means pulling 150–500 million tenge out of working capital all at once. Most small and medium businesses cannot do this. Real estate leasing is an instrument that lets you get a finished facility now and pay in equal instalments over 5–7 years. The Kazakh market offers several products for different situations. Let's look at the current terms for 2025–2026.
from 15%
BCC Leasing down payment
the property itself serves as collateral — no additional security required
up to 7 years
maximum real estate leasing term
BCC Leasing, ForteLeasing — for commercial real estate in Kazakhstan
from 22.35%
base real estate leasing rate
APR from 25.32% — per BCC Leasing data for 2025; lower under government programmes
18 months
minimum business operating period
to qualify for leasing — along with confirmed account turnover at a bank
How Warehouse Leasing Works
In a classic financial lease, the scheme is:
- You select a contractor and agree on the construction or purchase cost of the facility
- The leasing company finances the purchase/construction — the facility is registered in its name
- You receive the facility for use and make monthly lease payments
- At the end of the contract — the facility transfers to you at the buy-out value (typically 1–3% of the total cost)
Main advantage: the facility itself serves as the security for the deal — no additional collateral required (BCC Leasing). This is fundamentally different from a mortgage loan.
Key Players in Kazakhstan's Leasing Market
BCC Leasing (subsidiary of Bank CentrCredit)
BCC Leasing was the first in Kazakhstan to launch a commercial real estate leasing product. Key parameters for 2025–2026:
| Parameter | Value |
|---|---|
| Down payment | from 15% |
| Lease term | up to 7 years |
| Base rate (real estate) | 22.35–23.50% per annum |
| APR | 25.32–26.80% |
| Partner rate (Astana Invest Park) | from 5.40% (APR from 6.49%) |
| Review period | from 7 business days (full package) |
| Additional collateral | not required |
ForteLeasing (ForteBank group)
ForteLeasing finances from its own funds, bank credit lines, and government programmes — this allows it to offer rates comparable to second-tier bank rates.
ForteLeasing products:
- "Start Leasing": for young businesses, reduced requirements, from 10% down payment
- "Business Leasing": for established enterprises, larger amounts
- "Operating Lease": rent with purchase option — no title transfer during the use period
Halyk Leasing (subsidiary of Halyk Bank)
One of the largest by portfolio volume. Specialises in large facilities — from 100 million tenge.
Leasing Grupp, NurLeasing
Independent leasing companies with state participation. Often operate under government SME support programmes (Damu, KazAgroFinance, etc.).
Borrower Requirements
Leasing companies evaluate the business — its stability and creditworthiness:
| Requirement | Standard |
|---|---|
| Business operating period | from 18 months |
| Credit history | positive (no current delinquencies) |
| Turnover confirmation | bank account statement |
| Source of down payment | own funds (not borrowed) |
| Legal form | TOO, IP, JSC |
| Tax arrears | none |
Down payment — from your own funds
Leasing vs Bank Loan: What to Choose
| Criterion | Leasing | Bank loan |
|---|---|---|
| Additional collateral | Not needed (facility = collateral) | Needed (land, other property) |
| VAT | Lease payments include VAT — goes to credit | VAT on construction — separately |
| Balance sheet | Facility on lessor's balance — no depreciation charge | On your balance from the start |
| Rates | Slightly higher than bank | Slightly lower than leasing |
| Approval speed | 7–14 business days | 20–45 business days |
| Down payment | 10–15% | 20–30% |
Conclusion: leasing is faster and simpler in terms of collateral, a loan is cheaper if you already own land.
Government Leasing Programmes for Business
"Damu" — Business Development Fund
Interest rate subsidy on leasing through SME support programmes. The actual rate for the entrepreneur drops to 6–9% when the leasing company partners with Damu.
KazAgroFinance
Leasing for agro-industrial facilities (greenhouses, grain storage, livestock complexes in the Almaty region) at preferential rates.
"Economy of Simple Things" / "Business Roadmap"
Interest rate subsidy for manufacturing enterprises. When criteria are met — rate drops to 6–8% per annum.
Combining leasing with a government programme — the best strategy
Sample Lease Payment Calculation
Facility: warm warehouse 1,000 m², construction cost 120 million tenge Down payment: 18 million tenge (15%) Lease amount: 102 million tenge Rate: 23% per annum Term: 5 years (60 months)
| Indicator | Value |
|---|---|
| Monthly payment (annuity) | ~2,860,000 ₸/month |
| Total payments over 5 years | ~171,600,000 ₸ |
| Overpayment vs cost | ~69,600,000 ₸ (+58%) |
Comparison with rental: renting a comparable Class B facility (3,900 ₸/m²/month) over 5 years = 3,900 × 1,000 × 60 = 234,000,000 ₸ — with no asset to show for it. Leasing at lower total cost gives you ownership of the facility.
Algorithm for Getting a Warehouse Lease in Almaty
- Arrange the land plot: leasing companies finance the building, not the land — the plot must be in your ownership or long-term lease
- Ready project and estimate: the lessor finances a confirmed budget — you need a project and contractor agreement
- Submit the application: to 1–2 leasing companies simultaneously
- Review period: 7–21 days
- Sign the lease agreement and construction contract simultaneously
- Construction monitoring: the lessor finances construction stage by stage through the contractor (does not give money directly to you)
StroyHub works with leasing companies — we'll help arrange financing
We'll prepare the project, estimate, and document package for submission to BCC Leasing or ForteLeasing. Free consultation.