“I inquired with people who received apartments through the SMC during that time. It turned out that their salaries were 16,000 soms, while the monthly loan payments reached 24,000 soms. As a result, salaries have now increased to 70,000-80,000 soms, and the activities of the SMC have been completely reformed,” the president reported.
He also added that this year about 20,000 families will receive their keys to new apartments. The construction of state mortgage housing continues in the regions.
Regarding the markup of the SMC on the cost of construction, Japarov explained that housing cannot be provided solely at cost.
“The company must operate indefinitely. If we provide apartments at cost, we will have to allocate budget funds every year, and ultimately the company will go bankrupt,” he emphasized.
According to him, the authorized capital of the State Mortgage Company is now about 2 billion dollars, while a year ago it exceeded 1 billion dollars.
Sadyr Japarov also reported that the 400 million dollars that the National Bank transferred to the budget as net profit were directed towards the construction of new houses through the SMC.
“At the moment, we are providing housing at an annual interest rate of 4% for a term of 25 years. People are satisfied, as the cost of housing from the SMC is significantly lower than that of private construction companies, which offer their apartments at a price of almost 2000-3000 dollars per square meter, not including finishing. At the same time, the SMC builds housing in the regions for 750 dollars per square meter, and in the Chui region for 700 dollars. This is the price for housing with finishing. Then the SMC adds 200-300 dollars to this cost for sale,” he noted.
The president also mentioned that the name of Kanybek Tumanbaev is often heard in the Jogorku Kenesh.
“People claim that Kanybek Tumanbaev exclusively builds housing and that he is the only one lucky enough right now. If you have a construction company and are ready to build at such a price, come to me, I will provide a plot for construction. I have gathered private construction firms more than once, urging them to build for the SMC, but they all laughed, claiming that it is only possible to build ‘turnkey’ for 900-1000 dollars per square meter. Therefore, we had to take this on ourselves,” he added.
Sadyr Japarov also reported that Jenishbek Toktorbaev, the former mayor of Osh, has offered his services in the southern regions.
“He has been engaged in construction for a long time, even before the establishment of the SMC, building houses for 750 dollars per square meter. If anyone else wants to build, please come,” the president said.
Additionally, he expressed the opinion that the State Mortgage Company should not engage in construction projects independently.
“If they start building, it could lead to problems: theft, price increases, etc. Therefore, it was decided that the SMC would only deal with calculations,” he concluded.
Japarov noted that as soon as construction is completed in Bishkek and the Chui region, projects for state mortgage houses will be implemented in every district center of the country, and then the company will begin to engage in repairs and construction of private houses throughout the territory.
