How to check a developer before buying a flat in Bishkek

More than 400 residential buildings are under construction in Bishkek at once, and according to the State Construction Agency about 30 projects are more than a year behind schedule. Buying off-plan saves 20–25% of the price but requires checking the developer. Here is a step-by-step guide.

Step 1. Land documents and the permit

Ask the developer for three documents: the state land act or a lease with the city, the architectural planning conditions, and the building permit from the State Construction Agency. Check that multi-storey housing is allowed on the plot and that the permit has not expired. Permits are published in the open register of the State Agency for Architecture, Construction and Housing.

Step 2. The legal entity

Via the Ministry of Justice portal check that the company was not registered yesterday and that the founders have not changed over the past year. On the Supreme Court website look for lawsuits from buyers, contractors or the tax service. Three or more claims over missed deadlines are a reason to walk away.

Step 3. Bank accreditation

If the project is accredited by Optima Bank, KICB, Bakai Bank or the SMC, the bank has already checked the documents and the financial model. Lists of accredited buildings are on bank websites and in the FinMarketKG mortgage section. Lack of accreditation is not a verdict, but it is a serious signal.

Step 4. Completed projects and the site

• Visit the developer's completed buildings: ask residents about deadlines and quality.
• Watch construction progress: if no new floor has appeared in three months, the money has run out.
• Compare the price with the market: a discount of 30% or more from the district average often means document problems.

Step 5. The contract

Since 2025 developers must sell under a shared-construction agreement registered with the Cadastre, with funds placed in an escrow account at a bank. If you are offered a "preliminary contract" or an "investment agreement" without escrow, your money is unprotected. Check the exact delivery date, penalties for delay (0.1% a day by law) and the full area including balconies.

Do not rush the purchase: a lawyer will check the whole document package in two days for 5,000–8,000 som. And remember that a mortgage from an accredited bank is an extra guarantee: the bank shares the risk with you. Compare bank and developer terms on FinMarketKG.