Stalled construction project on Zhibek Zholu: around 100 co-investors intend to complete the build themselves

Work is continuing in Bishkek to resolve the issue of a block of flats whose construction has been stalled since 2018. The project in question is located at 295 and 297 Zhibek Zholu Street.

Nurdán Oruntaev, Minister of Construction, Architecture and Housing and Communal Services, met with the co-investors involved in the long-delayed project. According to them, around 100 co-investors intend to complete the construction of the residential building themselves.

To do so, the shareholders must complete the relevant paperwork in accordance with the law. They have asked the Minister to assist in resolving this matter.

Following the meeting, the heads of the relevant departments were instructed to speed up the processing of documents, provide the investors with the necessary legal support and address issues relating to the completion of the construction.

Furthermore, there are plans to revoke the licence of the company responsible for the suspension of construction and to place it on a blacklist.

The Minister emphasised that all issues must be resolved in accordance with the law, and that the protection of the rights and interests of the co-investors must remain a priority.

Construction of the residential building began in 2018 by the company ‘Expert Stroy’ (LLC). Work was subsequently halted.