The economy, which is on the path of rapid and stable growth, leads to an increase in real estate prices due to a revaluation based on real purchasing power and forecasts for future development, rather than emotional factors.
Currently, Bishkek is precisely at this stage. In the context of high interest rates, the focus shifts: it is more important not just to acquire an asset but to effectively maintain the right position within the market cycle, minimizing the impact of capital costs on investment returns.
The Royal Central Park company offers an innovative solution to this challenge through a unique financial structure that allows investors to lock in prices at the current level and manage the timing themselves at the beginning of a new growth cycle.
Images of the capital of Kyrgyzstan — Bishkek
Bishkek and the Revaluation Stage
Real estate prices are rising not due to emotional factors but because of significant economic changes. When household incomes rise and expectations grow, capital begins to seek long-term investments to preserve value, leading to a situation where the previous price level no longer adequately reflects real purchasing power. Currently, Bishkek is in such a situation — at the beginning of a revaluation cycle.
Over the past five years, the economy of Kyrgyzstan has demonstrated impressive growth. According to data from the World Bank, the International Monetary Fund (IMF), and the National Statistical Committee of the Kyrgyz Republic, the country's economy has increased nearly threefold compared to 2020. In 2024, GDP growth is projected at 11.5%, and in 2025, the growth rate will exceed 10%. This has led to an increase in GDP from approximately 7.2 billion USD in 2020 to about 18 billion USD in 2024, with a forecast of exceeding 20 billion USD in 2025.
This growth is reflected not only in macroeconomic indicators but also in changing expectations regarding quality of life, urban space, and real estate value. In countries with dynamic growth, the real estate market typically undergoes a process of price revaluation in accordance with new levels of purchasing power and long-term expectations.
In Bishkek, several clear signals are already visible. According to local market reports and transaction statistics, in 2024, real estate prices increased by approximately 30% compared to the same period last year; during the first seven months of 2024, the growth was about 18% compared to the previous year and over 40% compared to 2022. This indicates that Bishkek is no longer in a waiting stage but has transitioned to a more sustainable growth phase.
Making the Right Decisions Amid Changes
In the context of high interest rates, the issue of investing in real estate is no longer about choosing between buying or refraining, but about selecting the right financial instrument.
According to data from commercial banks in Kyrgyzstan, loans for finished real estate offer rates in the range of approximately 18–22% per annum. Most programs do not support the purchase of properties under construction and require immediate interest payments, which effectively deprives investors of financial flexibility.
Thus, investors have to pay the cost of carry even at a stage when the property is not yet ready, and its value has not yet increased enough to cover these costs. Although the market may show price growth, the internal rate of return (IRR) still decreases as cash flows do not align with the asset value growth cycle.
The key issue in this context is not whether prices will rise in Bishkek, but the ability to maintain an investment position during growth, minimizing the impact of capital costs on investment efficiency.
Image of the multifunctional complex Royal Central Park in Bishkek
Royal Central Park and Its Financial Model
The credit policy of Royal Central Park in Bishkek aims to address the issues described above. Instead of focusing on lowering interest rates, the project has chosen a more effective financial approach that includes redistributing the timing of capital cost payments.
By financing up to 70% of the apartment cost, with a maximum loan term of 15 years and a three-year grace period for both principal and interest, buyers do not experience financial pressure at the outset. During the grace period, interest is covered by the developer, allowing investors and homeowners to maintain a full position on the asset during the critical phase of cyclical growth.
The "Three Years" as an Option for Time for the Investor
Firstly, such a structure allows locking in the price at the current level when Bishkek is just beginning its revaluation phase. The entry price is set before the new price level is recognized widely.
Secondly, the first three years relieve the burden of maintaining the position. In the context of high interest rates, exemption from interest payments during the asset value accumulation period allows the investor to avoid pressure for premature sales or lowered return expectations — one of the frequent reasons for reduced investment efficiency.
Finally, by the time financial obligations begin, the debt structure becomes "lighter." As the market grows and the asset value is revalued, the debt-to-value ratio automatically improves. This highlights the difference between passive credit leverage, where cash flows are diluted, and strategic leverage, where capital costs are repaid after the asset's value increases.
The investor acquires housing not for short-term profit but using a structure that allows maintaining a full position during the growth phase, preventing interest rates from reducing the internal rate of return.
Maintaining Position — The Key to Long-Term Profit
For those purchasing housing for themselves, the three-year grace period creates financial freedom, allowing them to stabilize their income and life plans before starting to service debt obligations. For the investor, this is a necessary delay that allows optimizing returns, waiting for a more evident revaluation process in the market, assessing resale options, or continuing to hold assets when operational and rental values become attractive.
Image of Royal Central Park and the 5 towers of the The Essence phase — officially on sale from January 2026.
The Royal Central Park project in Bishkek represents not only the first all-in-one format property in the city but also an investment model created with the current growth of the city in mind. In the context of market revaluation, the ability to lock in prices at the current level and maintain control over the asset during the initial growth period provides long-term investors with a clear strategic advantage, allowing them to maximize capital efficiency and optimize returns.
