OREANDA-NEWS. April 22, 2008. The next stage of the large-scale urban development programme initiated by the President of Turkmenistan and aimed at constructing comfortable apartment houses and cultural and social facilities was launched in Ashkhabad. During the sitting of the Cabinet of Ministers on April 14 President of Turkmenistan Gurbanguly Berdymuhamedov signed 32 Resolutions approving the projects on construction of 30 apartment houses, dozens of schools and kindergartens, 20 shopping and recreation centres in Ashgabat by the end of 2009. The Turkmen leader gave start to these projects during the working trip around Ashgabat last week. At the request of the national ministries and departments, the foreign companies – the winners of the international tenders, will implement the projects amounted to over US\\$ 500 million.

The tenth stage of the programme on Ashkhabad’s development stipulates for building the housing estates mostly between Saparmurat Turkmenbashi Avenue and Bitarap Turkmenistan Avenue. Lots of newly-constructed buildings will spring up on 1972 Street (Ataturk). Since the beginning of 2008, US\\$1 billion of the public investments and subsidies of the ministers and departments – the building owners have been invested in developing the residential areas in the south of Ashgabat. Thus, about 200 buildings are under construction in Ashgabat.

The building owners independently select the projects and contractors on the competitive basis. Moreover, the ministries and departments finance the projects activities out of their own funds and other earnings, through settling the mutual accounts. The government subsidies are supplied to meet the social and housing needs of the government-financed organisations.

In accordance with the Resolution of the President of Turkmenistan, the President Bank is to extend the term of repaying the mortgage loan on a property for buying the apartments offered for sale in Ashkhabad by citizens of Turkmenistan to 30 years. The annual interest rate is not to exceed one percent. Owners of newly-build apartment houses continue to enjoy the five-year extension on accumulated debt repayment. The socially-oriented urban development programme implemented throughout Turkmenistan guarantees the discount of 50 percent of the cost of apartments to the specialists and workers of the national ministries and departments – the building owners.

The housing construction programme is in full swing in the administrative centres of the regions and in Turkmenbashi town. Rural population will buy on beneficial terms the cottages built under a particular project. The large-scale programme on development of rural areas stipulates for building thousands of kilometres of motorways and establishing the engineering infrastructure as well as constructing new schools, kindergartens, healthcare institutions, sports facilities, cultural and trading centres, recreation areas and hotels. In a word, all that will help to improve the living standards of the Turkmen people. That is a priority of the national policy based on the principle “a state for the people” put forward by President of Turkmenistan Gurbanguly Berdymuhamedov.