Bishkek, August 24, 2026 /Kabar/. Kyrgyz President Sadyr Zhaparov today, August 24, attended the grand opening ceremony of the renovated Ak-Keme Hotel.
In his speech, he noted that Kyrgyz government have been built over the 35 years of independence, many important buildings, distinguished by their architectural beauty, playing a historical role in their time, and adorning the capital city. One of these was Ak-Keme Hotel. This building, basking in the fresh breeze from the Ala-Archa Gorge, has hosted foreign guests, international meetings, and events, and has been the setting for many important events in the history of the country. Unfortunately, lately Ak-Keme was left unattended over time and fell into near disrepair.
In 2023, Ak-Keme Hotel was trasferred to the Presidential administration of Kyrgyzstan. Following this, work began on a complete renovation of the hotel using investment mechanisms. With significant attracted investment, the building's engineering systems, technical equipment, and infrastructure were updated, and the interior and exterior were brought into line with modern requirements.
Sadyr Zhaparov briefly spoke about the history of the hotel.
This building was constructed by a Turkish businessman during the presidency of Askar Akaev. It was later illegally confiscated from him. The businessman then filed a lawsuit in New York court and won. Kyrgyzstan must pay $16.5 million or return the building. Thus, the $16.5 million debt had grown to $30 million by 2020. New York court ordered a penalty of $15,000 per day for failure to comply with the court's decision on time.
Kyrgyzstan negotiated for two years starting in 2021 with the Turkish businessmen and proposed a settlement, reducing the amount to $6.5 million, reached an agreement, and freed the building from encumbrances.
After the building was fully transferred to presidential administration and legally registered, it was leased to the investor for 15 years, starting today, the investor will pay the state a monthly rent of $60,000.
The renovated Ak-Keme Hotel, with 174 rooms, conference and business meeting rooms, restaurants, and sports and recreational infrastructure, meets all these requirements and will take Bishkek's hospitality to a new level.
