Ownership of Four Resorts in Issyk-Kul Region Transferred to Uzbekistan
Four resorts in Issyk-Kul region have been officially transferred into the ownership of Uzbekistan, as confirmed by an agreement published on the website of the Ministry of Justice of Kyrgyzstan. The resorts include Golden Sands of Central Asia (formerly Bosteri), Rokhat-NBU (formerly Rakhat), Dilorom (formerly Enesai), and the unfinished Buston resorts. This agreement between the Cabinet of Ministers of Kyrgyzstan and the Government of Uzbekistan outlines the responsibilities of the Uzbek side, which include developing hotel complexes to a standard of at least three stars, granting access to beach areas for Kyrgyzstanis, paying taxes and rent promptly, and maintaining the properties in accordance with international standards.
Despite previous legal disputes over the ownership of these resorts, the recent agreement solidifies Uzbekistan’s claim over the properties while also allowing Uzbek organizations to potentially transfer ownership to third parties in the future. However, Kyrgyzstan retains the preferential right to purchase the resorts at market value before any other party.
The resolution of this longstanding dispute marks a significant milestone in the relationship between Kyrgyzstan and Uzbekistan. After undergoing international arbitration, the details of the agreement and the decision made by the judge have been kept confidential by both parties. This newfound cooperation sets a promising precedent for future collaborations between the two neighboring countries.
