4 boarding houses in Kyrgyzstan were transferred to Uzbekistan

The international agreement concerning the transfer of four guesthouses in Issyk-Kul, located in Kyrgyzstan, to Uzbekistan was approved by Uzbek President Shavkat Mirziyoyev and the Kyrgyz Cabinet of Ministers. Relevant documents have been published on official portals.

The agreement aims to regulate the ownership of recreation zones located on the shores of the lake and to ensure their further operation.

The list of guesthouses includes "Golden Sands of Central Asia" (formerly "Bosteri"), "Rohat-NBU" (formerly "Rohat"), "Dilorom" (formerly "Enesay"), and the unfinished "Buston" boarding house.

Kyrgyzstan will transfer ownership of these properties to Uzbekistan, which has designated authorized organizations to handle the property rights of the facilities.

- "Tashkent Mechanics Plant" joint-stock company is authorized for the boarding house "Golden Sands of Central Asia."
- The "Rohat-NBU" house is assigned to the National Bank of Foreign Economic Activities.
- The "Dilorom" boarding house is assigned to "Asakabank."
- "Uzsanoatkurilishbank" is authorized for the boarding house "Buston."

For context, this agreement was signed on July 18, 2024, during the visit of Kyrgyz President Sadir Japarov to Uzbekistan. The Kyrgyz Cabinet of Ministers approved the agreement on September 23.

Once ownership is formalized, the designated banks and the factory are required to complete the reconstruction of the facilities, aiming to create at least three-star hotel complexes that meet international standards. After the reconstruction, they can lease the properties to third parties. Additionally, Kyrgyzstan will have a preferential right to purchase these properties at market value over other potential buyers.

Furthermore, at least 80 percent of the boarding house employees must be Kyrgyz citizens, and Kyrgyz citizens must have unhindered access to the beach areas. Taxes, non-tax fees, and other payments, including rent for the land, must be paid on time. The estimated investment for each facility is between $15 to $20 million.