Logistics and warehouses in Kazakhstan: the Middle Corridor, Khorgos and the Almaty market

Why Kazakhstan matters for China–Europe transit

Two overland routes from China to the west run through Kazakhstan: the northern one via Russia and the Trans-Caspian route, or Middle Corridor, across the Caspian, Azerbaijan and Georgia. After 2022, shippers began looking for ways around Russia, and the Middle Corridor grew from 0.8 million tonnes in 2019 to 4.5 million tonnes in 2024. In 2025 volume dipped slightly, to 4.1 million tonnes, and containers came to about 77,000 TEU.

The state is investing in the route: according to bizmedia.kz, 911 km of rail projects were completed in 2025, including second tracks on Dostyk–Moiynty and a bypass line around Almaty, and terminals are being built in Kuryk and Aktau. Delivery time fell from 28–32 days to 13–17 days.

Speaking about cooperation with China in September 2026, President Kassym-Jomart Tokayev put the goal this way: "Our common task is to make this route as competitive as possible."

Khorgos: the dry port on the border with China

Khorgos, about 300 km from Almaty, has become the main overland gateway from China. According to Kazakhstan Temir Zholy (KTZ, the national railway) data cited by The Astana Times, the Khorgos Gateway terminal handled more than 372,000 TEU in 2025, 2% more than a year earlier. Since September 2025, after new sorting tracks opened, capacity has risen from 540,000 to 800,000 TEU a year, and the average container handling time has fallen from five hours to one.

Two conclusions follow for an investor. The port is running at less than half its new capacity, so there's no shortage of transshipment. But the flow of goods into Kazakhstan itself is growing, and some of it needs to be stored, sorted and distributed around Almaty.

Warehouses in Almaty: shortage or already a surplus

As recently as early 2024 there were almost no free warehouses in Almaty: vacancy was 0.78%. Developers responded with a boom. According to Bright Rich | CORFAC International data presented at the Bright Rich Forum in May 2026, about 468,000 m² of logistics property has been built in the city since early 2024. Vacancy rose to 13.3%, with about 179,000 m² standing empty. Company partner Artemy Pestovsky called the rise in vacancy a warning sign for owners.

Rents went down. According to Galiya Omarova of Bright Rich | CORFAC (August 2026), class A warehouse rent has fallen since early 2024 from 5,500 to 4,300 ₸ per m² a month, and class B from 4,400 to 3,700 ₸. Nationally, according to NF Group, about 80% of quality warehouses are concentrated in Almaty and Astana.

Marketplaces and e-commerce: Wildberries, Ozon, Kaspi

Alongside Kaspi, Russian marketplaces are expanding actively in Kazakhstan. According to Minister of Trade Arman Shakkaliyev, as cited by BES.media and Kapital.kz, Wildberries rents about 46,000 m² of warehouses in Kazakhstan and is building a large logistics complex in Almaty, about 170,000 m², due to open in Q1 2027. After publication the company said the actual parameters of the projects are different, so I treat the figure as a rough guide.

As of September 2026, Ozon has sorting centres in Almaty and Astana and offers sellers storage in local warehouses. The big players build their own facilities, so for a private investor the more interesting part is serving their periphery: pickup points, warehouses for sellers, small cross-dock sites.

How to choose a warehouse site near Almaty

A warehouse earns on minutes of travel time. Working for Kaspi and Magnum, I got used to watching how a truck drives in, turns round and unloads. For a warehouse, that's what matters most.

• Highway access: the Eastern Bypass, the roads to Kapshagay, Talgar and Bishkek. A semi-trailer needs an easy approach without narrow streets
• Land category: industrial or for warehouse development, with no need for rezoning
• Electrical capacity: a cold store needs several times more than a dry warehouse
• Soil and slope: a level site saves money on foundations and access roads
• Staff: public transport stops nearby so employees can get to work
• Time and tonnage restrictions on trucks entering the city

Example calculation: a 5,000 m² class A warehouse

This is an illustrative example, not data from a real property. A plot of about 1.5 hectares by the highway for 250 million ₸, and class A warehouse construction at about 250,000 ₸ per m², i.e. 1.25 billion ₸. About 1.5 billion ₸ in total.

Rent at 4,300 ₸ per m² a month gives 258 million ₸ a year at full occupancy. After property tax, insurance, security and repairs (say 15%), about 219 million ₸ remains. That's a yield of about 14.6% and payback of about 7 years. If the warehouse stands empty 13% of the time, as the market average is now, the payback stretches to almost 8 years. So right now I wouldn't advise building a general-purpose warehouse without a signed tenant.

Risks of logistics projects: what to watch

• Oversupply: about 468,000 m² of warehouses were built in Almaty in 2.5 years, and rents are falling
• Geopolitics: transit depends on relations with China, Russia and the Caspian states, and Middle Corridor volumes fell in 2025
• Big marketplaces are building their own warehouses and may leave rented ones
• Power and access: connecting electricity to a new warehouse can take a long time
• The tenge exchange rate: building materials and equipment are partly imported
• Rents are in tenge, while investments are often calculated in dollars