Bishkek (AiaNews) – A city destined to become a hub of economic activity is set to be built on the shores of Lake Issyk-Kul: Asman is conceived as one of Kyrgyzstan’s largest urban development projects.
It is expected to cover around 4,000 hectares, be home to between 500,000 and 700,000 inhabitants, and require a total estimated investment of around 20 billion dollars.
Construction of the first 200 hectares is set to begin this month, with plans for residential areas, hotels, shopping centres and healthcare facilities. The scale of the project, however, presents Kyrgyzstan with a challenge more complex than simply building new properties: the plan is to create a city from scratch, with its own economic base, capable of operating year-round, attracting capital and creating jobs outside Bishkek.
The idea of a new city on Lake Issyk-Kul took shape in the early 2020s. In October 2021, the authorities established a state agency for the construction of Asman, and on 30 June 2023, Kyrgyz President Sadyr Žaparov laid the foundation stone of the future city.
The transition from concept to practical implementation took longer than expected, and over the course of several years the pool of potential investors changed, agreements with foreign companies were revised, and the parameters of the future development were refined.
The project received a new impetus in 2026: in August, an international forum dedicated to the construction of Asman was held in Bishkek. Discussions centred on urban planning, engineering and transport infrastructure, as well as mechanisms for attracting foreign capital and investment.
The search for partners continued even after the forum. In early September, a representative of the Tatar holding company Ak Bars visited the site of the future city, and discussions took place regarding the possible participation of Russian investors in the project.
These negotiations are of crucial importance for Asman: the project has been designed from the outset to attract significant private and foreign investment, so the pace of its further development will depend not only on urban planning decisions, but also on the ability to consistently attract new participants.
Asman is expected to be built on the northern shore of Issyk-Kul, between the settlements of Toru-Aigyr and Čirpikty, not far from Balykčy and Tamčy International Airport.
The choice of location is primarily linked to the region’s importance as a tourist destination, as Issyk-Kul remains one of Kyrgyzstan’s main tourist centres, although a significant proportion of local economic activity still takes place solely during the summer season.
In 2024 alone, approximately 714,000 people holidayed in the region’s organised tourism sector, and the new city is expected to expand the region’s economic role.
Alongside accommodation and hotels, medical and commercial facilities are planned here, capable of sustaining demand for services and employment not only during the peak tourist season.
A further foundation is being laid by the development of the area around Tamčy. In 2025, a special financial investment zone was established here, covering an area of nearly 6,000 hectares.
Its stated development priorities include attracting investment, transport infrastructure, tourism and the spa sector. The scale of Asman is particularly evident when considering the region’s demographic context: at the start of 2026, approximately 554,000 people lived in the Issyk-Kul region, whilst the new city itself is designed to accommodate 500,000–700,000 inhabitants.
Therefore, this is no longer simply a matter of expanding the existing tourist area; once the project is fully implemented, a major urban centre is expected to emerge on the northern shore, capable of significantly altering the economic structure of the entire region.
Asman will not only have to attract people, but also offer them reasons to stay in the long term: to work, access services, do business and integrate their daily lives into the new city.
The economic impact of the project could become apparent well before the city is completed: a construction project of this scale creates demand for materials, engineering services, transport, equipment and related services.
The key indicator is whether the new city will succeed in transforming itself from a large-scale construction project into a fully-fledged urban economy, capable of operating independently and supporting the development of the region and of Kyrgyzstan as a whole.
