The agreement signed between the governments of Kazakhstan and Kyrgyzstan concerns the regulation of property rights to resort facilities located in the Issyk-Kul region. It extends Kazakhstan's obligations to modernize the facilities to the level of 3- and 4-star hotels by the end of 2029, excluding bases. This agreement was concluded on July 4, 2006.
Deputy Nuriya Niyazova stated that Kazakhstan will have the opportunity to attract investors and demolish existing buildings on the leased plots. According to the agreement, Kazakhstan will become the owner of four facilities: the "Kazakhstan" sanatorium, the "Samal" rest house, the "University" sports and health camp, and the "Olympus" center.
Informburo.kz reports that Kazakhstan intends to renovate these four hotels at Issyk-Kul; however, funding has not yet been secured for all facilities, as noted by Deputy Minister of Finance Dauren Temirbekov.
According to him, funds will be allocated only for the "Kazakhstan" sanatorium, amounting to 9 billion tenge. Responsibility for the other facilities will be placed on investors.
Investor Almara Petroleum is ready to invest 3.7 billion tenge in the renovation of "Olympus," which is managed by the Ministry of Tourism and Sports. The "Samal" rest house will receive about 10 billion tenge, owned by the Kazakh National Research Technical University named after Satpaev.
"As for the third facility — the university's sports and health camp, an investor has not yet been found. We continue the search. According to our calculations with the Ministry of Science and Higher Education, investments in this project may amount to about 13 billion tenge," Temirbekov added at a briefing in the Senate.
He also noted that investors come on their own terms, without any preferences, and all implementation conditions depend on the existing agreements in Kyrgyzstan.
On May 27, 2025, the President of Kyrgyzstan, Sadyr Japarov, signed a law regarding agreements with Kazakhstan on resorts and land in the Issyk-Kul region. According to this document, Kazakhstan is obliged to modernize its resort facilities to the level of 3- or 4-star hotels.
