The State Mortgage Company (SMC) under the Presidential Property Management Department of Kyrgyzstan is commissioning the construction of the “Muras” residential complex in Bishkek to two contractors linked to the inner circle of the Presidential Property Manager Kanybek Tumanbayev and President Sadyr Japarov.
WHAT THE PROJECT IS
According to kloop, the SMC is building a residential complex in Bishkek consisting of 39 buildings ranging from 18 to 24 storeys high — around 5,000 flats. Since 2024, approximately 2,000 flats have been sold, but residents have already complained about power surges in the grid, ground subsidence under one of the buildings, a snapped lift cable, and the lack of parking — despite the “one flat, one parking space” rule in force since 2024. The SMC receives the land for development from the state free of charge.
It is reported that the construction contracts were awarded to “Amanat Stroy Invest” and “Insaat Stroy Building” — and that the client, the SMC, is overseen by the very same department to which the owners of both companies are answerable.
WHO IS BEHIND “AMANAT STROY INVEST”
The company was registered in 2021. In 2023, members of the Jogorku Kenesh publicly asked who was behind the company that had won a 1.3 billion som contract to build housing for those affected by the border conflict with Tajikistan.
The nominal founder was listed as an orphaned student. Later, co-owners included David Kambarov — an acquaintance and former business partner of Tumanbayev in the restaurant trade — and Adilet Nurlanbek uulu, a close friend of President Japarov’s nephew. Tumanbayev denied any connection to the company at the time, and the Prosecutor General’s Office promised an investigation — the results of which, according to the source, are unknown.
Following this, “Amanat Stroy Invest” secured further major state contracts: building the presidential residence and the “Muras” residential complex.
THE SECOND CONTRACTOR ALSO LEADS BACK TO TUMANBAYEV
“Insaat Stroy Building” took part in building the same presidential residence. According to Kloop, the company’s former owner bought the firm in 2022, which had previously belonged to Tumanbayev personally.
The current co-owner of “Insaat”, Akbarali Abdyrazakov, has been on the board of directors of the SMC since 1 July 2026. Another co-owner, Altynbek Kozuyev, whom the publication’s sources describe as a Tumanbayev ally, also owns a market and the company that won the contract to build the country’s largest stadium.
Both contractor companies are exempt from taxes.
HOW TUMANBAYEV’S DEPARTMENT GREW
Kyrgyz President Sadyr Japarov appointed Tumanbayev as Presidential Property Manager in May 2022. Since then, the department has been given land, parks, state enterprises, and an entire Ministry of Digital Development — it now controls more than 30 subordinate organisations, from mortgage construction to the printing of passports and money.
According to Kloop, “Temirov Live” and OCCRP, real control over the contractor companies lies with Tumanbayev, who issues orders to the nominal owners.
TUMANBAYEV’S RUSSIAN PASSPORT
On 23 July 2026, Kloop and Temirov Live discovered that Tumanbayev holds a valid Russian passport.
Under Kyrgyzstan’s civil service law, a person holding citizenship of another country cannot hold a senior position in a state body. Tumanbayev oversees not only the SMC but also a range of strategic state projects — the presidential residence, the new airport in Karakol, and the tourist infrastructure of Ala-Archa.
The materials do not specify at what price the contractors were awarded the contracts or how much they earn from the construction — the SMC does not disclose this data.
