A new state company has appeared in Kyrgyzstan - Ala-Archa OJSC, which will manage state real estate: lease it out, develop it, and, if necessary, sell it. But the main peculiarity is who now owns this company and at whose expense it was acquired.

Earlier "Akchabar ” has already written that the company was officially registered on April 23, 2025, and the next day, April 24, its shares were offered for sale on the Kyrgyz Stock Exchange. A total of 1 million 750 thousand shares were placed at a price of 1 thousand soms each. The total amount of the transaction amounted to 1.75 billion KGS.

These shares were fully purchased by the Social Fund, which used money from the State Accumulative Pension Fund (SAPF). This is the Fund, which receives contributions from working citizens of Kyrgyzstan. Simply put, the company was bought at the expense of the funded part of the pensions of the citizens themselves.

According to the government's instructions, the 1.75 billion KGS received from the sale of shares of SAUGI must be transferred to the Stabilization Fund of the Kyrgyz Republic.

In exchange for this money, the Social Fund received the building of the shopping mall “Ala-Archa” and two land plots in Bishkek - one with an area of 10.7 thousand square meters, the second - 3.3 thousand square meters. These objects constituted the authorized capital of the new company, formed by SAUGI. All the property was valued at exactly 1.75 billion KGS, which became the basis for the issuance of shares.