Construction Turkmenistan Revises Shared Construction Participation Agreement
“On Amending and Supplementing the Form of the Shared Construction Participation Contract Approved by Order No. MB-39 of the Ministry of Construction and Architecture of Turkmenistan dated March 11, 2019”
Pursuant to the Law of Turkmenistan “On Shared Construction of Residential Buildings and Other Real Estate” of March 31, 2012, and the Law of Turkmenistan “On Normative Legal Acts” of August 26, 2017, I order:
1. In the shared construction participation contract approved by Order No. MB-39 of the Ministry of Construction and Architecture of Turkmenistan on March 11, 2019, and registered with the Ministry of Justice of Turkmenistan on April 4, 2019, under registration No. 1208:
1. In paragraph 1.1, after the words “located in the territory,” add “included therein.”
2. In paragraph 1.2, delete the phrase: “and in this regard, the contract price may be changed by an additional agreement between the ‘Equity Holder’ and the ‘Developer’ in accordance with the established procedure, subject to registration with the authorized state body for construction and architecture (hereinafter – the authorized body) and state registration with the Real Estate Rights Registration Service of the Ministry of Justice of Turkmenistan.”
3. In paragraph 2.1.5, after the word “registration,” add “(hereinafter – state registration).”
4. In paragraph 4.5, replace “in paragraphs 1.2 and 5.4” and “in this regard” with “in paragraph 5.4” and “respectively.”
5. Replace paragraph 4.6 with the following:
“4.6. The contract price shall be paid by the ‘Equity Holder’ in full, based on the project area of the construction object, within the timeframes and procedures set out in Annex No. 2 to this Contract, without applying paragraph 1.2 of this Contract. Any settlements between the ‘Equity Holder’ and the ‘Developer’ may be carried out only after the Contract is registered with the authorized state body for construction and architecture (the authorized body) and after state registration.”
6. In paragraph 7.5, after the word “their,” add “assistants.”
7. In Annex No. 1:
a) After “total area of the object_______,” add “including residential area_______”;
b) Replace “if a house – indicate the living area, kitchen, bathroom, toilet, balcony” with “if a house – separately indicate the area of the kitchen, bathroom and toilet, auxiliary rooms, and usable balcony”;
c) Replace “plastered, painted, other” with “cement-gypsum plaster, painted, other.”
8. In Annex No. 2, replace “for the construction of the shared construction object – to the Developer’s special bank account No. ____ in ____ bank” with “for the construction of the shared construction object, funds must be transferred in cash or by non-cash payment to the Developer’s special bank account No. ____, opened in a credit (banking) institution.”
2. Responsibility for enforcing this order is assigned to Deputy Minister of Construction and Architecture of Turkmenistan B. Khalykov.
Minister
A. Geldiyev
Registered with the Ministry of Justice of Turkmenistan
November 12, 2025
Registration No. 190.