Chinese investors who have implemented major hotel projects in their own country have expressed interest in constructing Ala-Too Resort in Issyk-Kul region of Kyrgyzstan. The state enterprise responsible for developing the resort zone reported.
The company reported that representatives of Chinese construction firms, together with Azamat Kadyraliev, head of the Cabinet’s Decision-Preparation Department, and Zharkynbek Maksutov, director of Ala-Too Resort state enterprise, inspected the site of the future resort.
The first phase of the auction took place in July, when local investors purchased 14 lots. The second auction, offering additional 35 land plots, will be announced in the coming days.
Under the terms, if a foreign investor wins a lot, the land for construction of hotels, apartments, cottages, an ethno-village, restaurants, and other facilities will be leased for 49 years. Local investors, however, may obtain land ownership.
The auction will be held both openly and online, and is open to local and foreign investors, construction companies, and tourism industry representatives.
