“Kygyzaltyn” Will Transfer Its Property in Kazarman to Local Residents

“Kygyzaltyn” and its subsidiary, “Makmal Gold Company,” will transfer to the state, free of charge, real and personal property located in the “Nur-Zhayyk” neighborhood of the village of Kazarmán in the Toguz-Torouz District.

President Sadyr Zhaparov signed the corresponding decree on October 26.

In the future, these properties are expected to be transferred to the ownership of the residents.

The document provides for a phased transfer of the property. First, the properties belonging to the companies will be transferred to state ownership through the State Agency for State Property Management.

They will then be transferred to the Toguz-Torouz District State Administration, which, together with local government bodies, must ensure the preservation of the property and carry out the necessary procedures to formalize citizens’ property rights.

Thus, the assets of the gold mining companies are planned to be used to address the housing needs of the local population.

However, the transfer of property to the state does not automatically confer ownership rights on citizens. Separate organizational and legal procedures must be carried out for this to occur.