Over 40mn square meters of buildings were constructed across Uzbekistan, including 2,044 multi-story buildings housing more than 100,000 apartments in 2024. This was discussed on January 23 where President Shavkat Mirziyoyev chaired a videoconference to evaluate Uzbekistan's housing initiatives in 2024 and outline plans for 2025 under the national mortgage program.
The large-scale housing developments not only addressed a critical demand for residential units but also served as significant drivers of economic activity. The housing sector employed 350,000 people in 2024 and generated an additional market worth UZS 11 trillion ($845.8mn) in industries such as furniture, electrical engineering, textiles, and building materials. Overall, UZS 73 trillion ($5.6bn) circulated within the economy, with UZS 14 trillion ($1.1bn) contributed to the state budget.
To meet growing needs, UZS 17 trillion ($1.3bn) in mortgage loans were distributed to 59,000 people, while UZS 3 trillion ($230.7mn) were allocated as working capital for builders and developers. However, challenges remain in regions such as Karakalpakstan, Jizzakh, and Syrdarya, where delays in construction and poor site planning left 781 apartments unsold due to their remote locations and lack of infrastructure.
The "New Uzbekistan" housing estates are central to the government’s strategy to elevate living standards, promote trade, and foster cultural and social development.
To accelerate progress:
- Strict Deadlines: Allocated land must have design plans completed within two months and construction started within three months. Unused land will be re-auctioned.
- Infrastructure Investments: This year, UZS 1.2 trillion ($92.3mn) will be allocated to improve infrastructure in these estates.
- Modern Financing: The introduction of an "escrow" system will provide $1bn in working capital for developers and allow citizens to secure mortgages from the start of construction.
Additionally, construction organizations will be exempt from land tax for up to 12 months during projects, while penalties will be imposed for delays.
By 2030, Uzbekistan aims to construct 100 "New Uzbekistan" estates, each comprising 2,000 apartments over 100,000 square meters. These estates will be built near district centers or cities with populations exceeding 70,000. A dedicated company, "O'z Uyim," will oversee the selection, design, and management of these projects to ensure quality and efficiency.
For 2025, the government has allocated UZS 15.5 trillion ($1.2bn) for housing programs, supplemented by UZS 10 trillion ($768.9mn) from banks and UZS 2.3 trillion ($176.9mn) from the Mortgage Refinancing Company. These funds will finance the sale of 70,000 apartments, with 30,000 reserved for low-income families who will receive down-payment subsidies.
In New Tashkent, 15,000 energy-efficient apartments will be constructed using "green" technologies. These projects will include a centralized "three-generation" system for heating and cooling, cutting electricity consumption fourfold during summer. Transportation and lighting systems will also rely entirely on renewable energy.
The implementation of a "Transparent Construction" platform will streamline project approvals and reduce bureaucratic hurdles. A digital system will monitor every stage of development, from land acquisition to project completion.
Uzbekistan is also focusing on renovating aging housing stock in cities such as Jizzakh, Margilan, and Tashkent. These projects aim to optimize land use, reduce communication costs, and improve the quality of life for residents.
To enhance construction quality, developers must submit projects online for review. The approval process has been simplified to involve only two departments: the Construction Inspection and Fire Safety Department.
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