Ak-Kula Hippodrome Up for Sale to Overseas Firms
Bishkek City Council Approves Privatization of Ak-Kula Hippodrome Property Complex
During an extraordinary session, deputies of the Bishkek City Council have approved a draft resolution for the privatization of the Ak-Kula hippodrome property complex by direct sale.
Vice Mayor Azamat Kadyrov explained that the hippodrome had previously been put up for auction twice, but was not successfully sold. As a result, the complex was divided into plots ranging from 1 to 3 hectares, yet still no applications were received for participation.
The plan is to transfer the hippodrome to two companies, namely ROX Group and TNG Global Foundation, through direct sale. These companies will receive a land plot totaling 53.61 hectares under the condition that they will build and transfer, at their own expense, various facilities to the municipal ownership of the capital. These facilities include general education institutions, preschool educational institutions, city roads, and a park area.
Azamat Kadyrov mentioned that the companies intend to develop the Ak-Kula microdistrict on the site of the hippodrome. The project is expected to be fully implemented within ten years, with a goal of completion within five years.
Mayor Aibek Dzhunushaliev emphasized that if the companies fail to meet the established deadline, the municipality reserves the right to take appropriate action.
Earlier, the City Hall had submitted a draft resolution for the privatization of the Ak-Kula hippodrome property complex by direct sale to the City Council. Despite an initial auction date set for May 16, the lack of applications led to the postponement of the sale, prompting the property complex to be placed in public auction once again.
