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Kazakhstan housing prices go up

ASTANA (TCA) — Prices of new and existing housing went up by 13.6 percent and 10.6 percent year on year respectively in Kazakhstan in June 2016. New housing cost KZT 252,700 per square metre and existing housing was worth KZT 191,400 per square metre (KZT 1=$343 on Aug. 17). The difference in prices on the primary and secondary property markets (25%) did not practically change over the past year (22-23% now), Ranking.kz reports. Continue reading

Construction woes in Kyrgyzstan

BISHKEK (TCA) — A draft law "On the reconstruction and development of the historical center of the Bishkek city” has been submitted for public discussion. According to the initiator of the bill, MP Omurbek Tekebayev, the new law is aimed at streamlining the construction of new modern buildings in Bishkek based on a single integrated architectural plan. Continue reading

EU and Slovak Republic funds boost residential energy efficiency in Kyrgyzstan

BISHKEK (TCA) — Many of the countries where the European Bank for Reconstruction and Development (EBRD) invests are known for their high energy consumption. Kyrgyzstan is no exception. It faces a legacy of inefficient energy use and many residential buildings are dilapidated, the EBRD press office reported.   Continue reading

US promotes sales of Kyrgyz decorative stone in international markets

BISHKEK (TCA) — Three leading stone processing companies from the Kyrgyz Republic attended one of the largest industry events dedicated to stone, marble and ceramics - Middle East Stone 2016 in Dubai, United Arab Emirates, USAID said on June 15. More than 230 companies showcased their products and 12,000 visitors attended for live demonstrations and networking opportunities. The United States through USAID sponsored the participation of the three Kyrgyz companies to promote exports of Kyrgyz construction materials. Continue reading

ICSID dismisses Turkish company’s claim against Turkmenistan

ASHGABAT (TCA) — The International Centre for Settlement of Investment Disputes (ICSID) has dismissed the claim of private Turkish company Içkale Inşaat Limited against Turkmenistan for the amount of USD 537 million and EUR 26.7 million. Continue reading

Kyrgyzstan consumes more electricity, builds no new generating facilities

BISHKEK (TCA) — If the country lacks generation capacity it is necessary to increase electricity import, Kyrgyzstan Prime Minister Temir Sariyev said on February 26 at the Government meeting to consider an anti-crisis program developed by the Economy Ministry and measures to support business in the current difficult economic conditions. Continue reading