Kyrgyzstan bans sale of apartments and collection of funds before foundation completion
Restrictions apply until the completion of the zero cycle—foundation construction and all underground works. At this stage, developers are also prohibited from advertising projects.
In Kyrgyzstan, developers are prohibited from selling residential and non-residential premises until the completion of the zero cycle of construction. The corresponding order was signed by the Minister of Construction, Architecture, and Housing and Communal Services, Nurdan Oruntaev.
The zero cycle includes foundation construction and the full completion of underground construction works. Until this stage is finished, companies are not permitted to attract funds from individuals or legal entities for construction.
The ban applies to shared participation agreements, preliminary contracts, and other civil law transactions that provide for such financing. It is also prohibited to place advertisements for construction projects.
The Department of State Architectural and Construction Control has been tasked with identifying violations. Inspections should cover premature sales, fund-raising, and illegal advertising. Explanatory work is already being conducted with construction companies.
This refers to restrictions on sales at the initial stage of construction, not a complete ban on shared participation until the building is commissioned. The exact effective date of the order, its number, and transitional provisions are not specified in the provided publication.
