Construction companies should have an authorized capital of up to 100 million soms. The head of the State Construction Agency, Nurdan Oruntaev, announced at a briefing.
According to him, increasing the authorized capital of construction companies is one of the methods of protecting real estate buyers. He noted that in recent years equity holders often find themselves in a hopeless situation, unable to get an apartment or the money they invested in real estate.
«The authorized capital implies the amount or property that construction companies are required to have when constructing objects. This can guarantee a solution to emerging financial problems. The size of the authorized capital reaches 100 million soms. This is a small amount for construction companies. At current exchange rates — $1.2 million. When constructing just one residential building, they spend up to $10 million,» Nurdan Oruntaev said.
The director of State Construction Agency noted that the size of the authorized capital will vary depending on the area of the building. 100 million soms are meant for objects with an area of up to 10,000 square meters.
