New residents were handed the keys to their flats in the Muras residential complex

Today, 12 January, President Sadyr Zhaparov took part in a ceremony to hand over the keys to mortgage flats as part of the second phase of construction of the Muras residential complex in Bishkek.

Today, 1,080 people received keys to their apartments.

A total of 4,754 apartments in 39 blocks are planned for construction in the Muras complex. In 2024, 510 apartments were built and handed over to their owners, and in 2025, 476 apartments. Currently, construction of 2,688 apartments is actively continuing, which will be handed over to their owners within the established deadlines.

Sadyr Zhaparov noted that the complex will include a kindergarten, a school and parking spaces — all the necessary social facilities for a modern and comfortable life.

The State Mortgage Company was established 10 years ago with a charter capital of 10 million soms. Today, its authorised capital has reached 87 billion soms, and in the future, it is planned to increase it to 200 billion soms. In 2025, the company provided housing for 4,662 families, which is four times more than in 2024.

Since the establishment of the State Mortgage Company, a total of 14,945 families have received housing.

Across the country, 80,245 mortgage apartments are under construction. By the end of the year, in the cities of Bishkek, Osh, Manas, Tokmok, Kara-Balta, Karakol, Cholpon-Ata, Balykchy, Naryn, Talas and Batken, as well as in the Kochkor district of the Naryn region and the Kara-Suu and Uzgen districts of the Osh region, more than 20,000 apartments will be built and handed over to citizens.

"I would also like to address the criticism that has been heard in society recently regarding the cost of mortgage apartments. First and foremost, we thoroughly analyse the prospects and act with a view to the long-term future. The State Mortgage Company continues large-scale construction and operates on the basis of accurate analysis and correct calculations. The company provides apartments to citizens on the housing programme waiting list for a period of 25 years without an initial deposit at 4 and 8% per annum. This is below the country's inflation rate. For example, in Bishkek and the Chui region, we commission private companies to build turnkey housing at a price of $700 per square metre. These companies, without exceeding the specified price, transfer the finished flats to the State Mortgage Company. We purchase these flats for $700. At the same time, the State Mortgage Company adds $250 on top and sells the flats for $950 per square metre", — he said.

He also noted that this $250 does not cover inflation over the 25 years for which the housing is provided. It does not even cover 50% of inflation.

"Despite this, we are agreeing to these conditions in order to ease the burden on citizens. If you were to purchase housing from private developers, the price would be at least $1,500 per square metre. In the future, the mortgage company will switch to self-financing and continue to expand the country's housing stock. Until now, the State Mortgage Company's funds have been allocated from the state budget. Thanks to the funds allocated by the state and the addition of $250-300 to the cost per square metre, the company's authorised capital has reached 87 billion KGS", — said Sadyr Zhaparov.

The president also said that this year, for the last time, about $500 million will be allocated to the State Mortgage Company from the budget. Starting next year, budget financing will cease. With a capital of 200 billion soms, the company will be able to provide housing for citizens, from young families to elderly people in need of a home, for 50-100 years.

"At the initial stage, we invited private companies to build mortgage housing. But large companies said that the turnkey cost could not be less than $1,000. As a result, we had to select contractors ourselves. In the Chui region and Bishkek, construction costs $700 per square metre, and in the regions — $750, as cement and reinforcement are delivered from Bishkek. If the housing is sold for $1,000 or $1,500, the difference goes to the mortgage company, which should be understood correctly. It is necessary to take into account the rise in prices for building materials, builders' wages, infrastructure development, the construction of pumping stations and treatment facilities — all of which require significant costs. All these factors are taken into account when calculating the cost of the project", — the president concluded.