He inquired about the actual cost per square meter. Nurlan Kudaykulov, Deputy Head of the GIK company, reported that in Bishkek it amounts to 59,140 soms, while in the regions it is 64,800 soms. Meanwhile, the selling price ranges from $900 to $1,400 per square meter.
Azygaliev expressed concern about the high housing prices. Kudaykulov explained that GIK pays the general contractor for the entire construction area, while the housing is sold only at the cost of the living space.
The deputy was puzzled by how GIK interprets the term "cost price," noting that with a cost price of $700 per square meter, the selling price is twice as high.
"GIK should make a profit, but it is directed not towards maintaining the apparatus, but towards new projects," Kudaykulov replied.
Deputy Prime Minister Daniyar Amangeldiev added that not all apartments are priced at $1,400 per square meter. Usually, such rates apply to properties with their own infrastructure. He also clarified that the price includes finishing costs, as GIK offers apartments "turnkey."
Azygaliev also inquired about apartment prices in Kara-Balta. A GIK representative stated that the cost is $900 per square meter, including finishing.
The deputy noted: "Private developers offer apartments for $600–700, although they buy the land themselves, while GIK receives it for free."
Amangeldiev explained that private companies can set such prices because they offer apartments without finishing. Additionally, GIK implements various programs for civil servants, vulnerable populations, and "queue members." Profits from commercial housing sales go to assist low-income citizens.
In conclusion, Azygaliev suggested that the deputy commission conduct an audit of GIK's activities. Amangeldiev assured that deputies would be provided with complete information on the formation of apartment prices and other business processes of the company.
