The president announced information about the cost of apartments in the State Mortgage Company (GIK)
At the IV People's Kurultai, President Sadyr Japarov responded to criticism that the State Mortgage Company (GIK) receives land plots free of charge while selling housing at high prices. “It's not that expensive. In 2021-2022, I held meetings with representatives of private construction companies, offering them to build housing at lower prices — $600-700 per square meter. However, they refused and stated that they would build at a price of $1,000,” he shared. In response, the state company "Kyrgyzstroyservice" was created, which is now building houses at a price of $700 per square meter and transferring them to GIK. In the regions, the cost per square meter is $750 due to the need to transport construction materials. GIK sells apartments at a price of $950 per square meter with the possibility of installment payments over 25 years without a down payment. “Why does the price increase? This money does not go into the pockets of individuals. It goes to the state company. Over 25 years, prices have changed, inflation is observed, and the company continues to develop. We have increased the authorized capital of GIK to $1 billion, although in 2021 it was only 10 million soms. In 2026, we plan to increase it to $2 billion. GIK will be engaged in construction in various regions, including small villages and towns,” the president added.
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