Real Estate Investment in Turkmenistan

Real Estate Investment in Turkmenistan: All land in Turkmenistan, except land plots under private ownership of citizens, is owned by the state.

Land use in Turkmenistan

By Turkmen law, land can be handed over to private individuals, Turkmen, and foreign legal entities, as well as international organizations and foreign states.

JUST KNOW ABOUT Real Estate Investment in Turkmenistan:

Turkmen citizens expressing a desire to obtain land plots should apply to the following state bodies which are responsible for land plots:

A) for private ownership – to maintain a private part-time house, to irrigate the land, and to build a private house – for the village, a district trap in the city

B) For security – to the relevant state body for land management

C) For Rent

Agricultural land – to a village or any other agricultural enterprise;

For non-agricultural ideas – to the appropriate state body for land management.

The legal entities of Turkmenistan require land for tenure or lease, file a petition to the respective state bodies for land managers who are responsible for the land plot.

In the citizens and petitions of the legal entities of Turkmenistan for the provision of land, the purpose, size, and location of the requested land plot should be indicated along with documents confirming the need for the provision of land.

The process of initiating and considering the application of citizens and petitions to the legal entities of Turkmenistan on the provision of ownership, tenure, and rent of land is defined by the Turkmen cabinet of ministers.

Foreign states, as well as international organizations and civil and legal entities from foreign states, expressed a desire to obtain land for lease, presenting a relevant petition to the Cabinet of Ministers of Turkmenistan.

Turkmen families are allocated land to maintain a private part-time family, irrigate the land, and build an individual house according to the instructions of the district administration (city) and Ashgabat.

Documents on the provision of land while doing Real Estate Investment in Turkmenistan with the issuance of documents certifying ownership of land, tenure of land for non-agricultural purposes, and lease of land are defined by the law of Turkmenistan by the state body for land management. The local branches of the State Registration Service register documents of real estate and related transaction rights under the Ministry of Justice of Turkmenistan.

Types of land use

• Land plots can be given for ownership, tenure, and lease
• Land plots may be given to the citizens of Turkmenistan
• A land plot may be given to Turkmen citizens and legal entities for permanent or temporary use (up to 99 years)
• A land plot can be leased to individuals, legal entities of Turkmenistan, and foreign states as well as foreign states and international organizations

Facts about living conditions in Turkmenistan

Authoritarian media

President Gurbanguly Bardimuhamedo keeps a close watch on daily life in Turkmenistan. The government oversees all media outlets to determine what can be published and what is not. Due to high expenses, only 17.9 percent of the population uses the Internet. People have little information online as authorities ban websites against the government. Since 2006, the government has jailed two journalists (Sapardardi Khadjiyev and Annakurban Amanaklychev) for not following government media rules.

Ongoing economic downturn

Turkmenistan was the poorest country during the USSR. It is a major step for the country. In 190, more than one-third of the nation lived in extreme poverty (less than $ 1.90 per day), leading to the lowest poverty rate in the country at 10 percent.

Development of education

About 100 percent of Turkmen people are literate. The country has a 12-year education system, however, the average student leaves school after 10 or 11 years. The government has partnered with UNICEF to continue the development of its education through the Child-Friendly School (CFS) model. The purpose of this structure is to help children not only in terms of education but also in their well-being.

Gender equality is on the rise

Women often get married at the age of 20 or 21 and thus have few opportunities to pursue higher education or careers. Fortunately, the United Nations has assisted in the recent 2017 presidential decree of Turkmenistan’s first national action plan on gender equality. The plan includes better legislation, equal access to health services, and data collection to monitor progress.

Critical health

The state does not provide large-scale funding for health care. It is likely to spend more money on health care than the Turkmen government. The average life expectancy is only 6.7 years due to the lack of accessible public health care, the highest cause of death being lower respiratory infections. 

Urban vs rural life

The sale of cotton, silk, dry sheep, and homemade carpets and rugs is essential for rural development. Ashgabat remains the capital city and is a focal point for business and government officials. Cars and railways connect the cities and towns of the country.

Prison savageness

Turkmen prisoners and especially political prisoners are often abused. The exact number of government-held political prisoners is not public knowledge, however, to prove they are alive, an international organization fighting to reduce disappearances within Turkmenistan said 121 people would forcibly disappear. 

Natural Resources and Economy

Turkmen economy is largely dependent on hydrocarbon resources. The country leads as the world’s fourth-largest natural gas distributor and in 2016 had 265 trillion cubic feet of natural gas reserves. Its largest customers include China, Russia, and Iran. Petrofac is one of the largest energy producers in the country and employs 1,700 people nationwide.

Environmental resolution

Turkmenistan has no renewable energy source and 13.9 percent of the population does not have clean water. However, UNICEF in 2017 developed a strategy to help the country promote sustainable practices. The project aims to raise awareness about environmental sustainability through education in schools.

A housing crisis

The government forcibly removed people from their homes so that they could build new buildings for the Asian Indoor and Martial Arts Games. Forced eviction is a common and recurring issue within Turkmenistan. To deal with this housing crisis, Amnesty International is promoting homes that continue to be demolished.

Low unemployment rate

Employment ranks last on the list of top 10 facts about living conditions in Turkmenistan. However, it also maintains a relatively low unemployment rate. Only 3.8 percent of the nation was unemployed in 2018, which is even lower than the United States’ unemployment rate of 4 percent.

Know everything related to the tenders, bids and Real Estate Investment in Turkmenistan at https://www.tendersontime.com/turkmenistan-tenders/real-estate-tenders/