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Kyrgyzstan Review, 10 years ago

[13.02.23] Investment Into Urban Site Development

Bishkek Department for Architecture reports that 36 land sites have been sold in the city in 2003. A special commission, chaired by vice- mayor of Bishkek, A. Kulbaev, offered 102 undeveloped land sites to be sold by auction and 67 (build-up areas) directly. The city budget collected 5 mln soms in revenues from the undertaking. A Turkish company Pegaos was the biggest investor to pay 680 thousand soms for a site in southwest Bishkek, next to hotel Pinara. The company is planing to construct a multistoried building for apartments and offices there.
All the auctions are held in accordance with resolutions # 135 and 137 of City Kenesh On the sale of land in Bishkek and Government resolution # 402 On the pilot project on sale of land property rights in Bishkek.

News Line Obshetvennyi Reiting, February 13, 2003

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