During the "Open Office" project on November 12, Social Fund Chairman Baktiyar Aliev presented revenue data for two major shopping malls that have transitioned to state ownership. The profit growth at these facilities is linked to infrastructure upgrades and revised lease terms.
Financial performance of Ala-Archa and AYU Grand
According to the head of the Social Fund, the projected net profit for Ala-Archa OJSC, whose shares the agency bought out 100% a year ago, is 245 million som for 2026. This is significantly higher than the 101 million som figure recorded at the time of purchase.
To achieve these results, Ala-Archa underwent work to re-register sub-lease agreements directly with tenants, and rent was increased within inflation limits—up to 10%. Profit calculations also include expenses for capital repairs of the roof, restrooms, and power supply systems.
Infrastructure investments
At the AYU Grand mall, which passed to the fund's management in November 2025, net profit increased to 283 million som compared to the 143–145 million som previously recorded. The growth was driven by technical improvements and social measures.
AYU Grand mall profit
- Installation of additional transformers
- Chiller replacement
- Repair of air supply systems
- Salary increases for administrative staff and security services
The profit figure accounts for building repair expenses, including the roof, restrooms, power supply systems, hot and cold air supply systems, as well as employee salary increases
