Japarov: An Elite City District Will Be Built on the Site of the Old Madina Market
The president exempted relocating traders from rent for three months and ordered the complex to be ready by early November.
A modern elite city district will be built on the site of the old Madina market in Bishkek. President Sadyr Japarov announced this on October 20 at an unscheduled meeting with traders, which he held following complaints from entrepreneurs about relocation conditions and fears of losing their trading spaces.
According to the head of state, market owner Tursuntai Salimov does not intend to preserve trading facilities on the former territory. As Sadyr Japarov explained, Salimov does not want a bazaar on this land and "intends to build a modern elite city district." Construction timelines, project parameters, and investment volume have not yet been announced.
Japarov assured entrepreneurs that the new market will have enough trading spaces for everyone who wants one. The new shopping complex will become state property. The president ordered the complex to be ready by early November and directed that necessary assistance be provided to entrepreneurs. Additionally, the head of state ordered traders to be exempted from rental payments for the first three months, and then minimum rates be set for an additional six months or one year.
According to the administration of the new market, approximately 90 percent of traders have already relocated. It should be recalled that at the end of August, a major fire occurred at the old Madina market; it was after this that the relocation of traders began. Those affected have been promised compensation at the expense of the landowner.