The 21-story, 160-unit property will be located on Satpaeva Street in Atyrau and will be the first internationally branded serviced apartments in the city.
It will be the anchor of a 19,000-sqm, mixed-use project that will also feature office space, retail and food and beverage outlets.
The Renaissance Atyrau Hotel, also managed by Marriott International, is located some 800 m from the site.
Atyrau is the capital of Kazakhstan’s oil industry.
“We continue to be excited by our expanding presence in Kazakhstan and, along with Capital Partners, to be able to play a meaningful role in the rapid economic development of the country,” said Arne Sorenson, chief financial officer of Marriott International and president of European lodging.