Price of hotel “Uzbekistan” falls to $23 million

Due to the lack of proposals for the state share of the hotel “Uzbekistan”, its price dropped to $23.1 million, the State Asset Management Agency reported.

According to the resolution of the Cabinet of Ministers dated August 2018, 80.13% of the state share in the JV LLC Otel O`zbekiston was put up for public auction.

The share of the state was initially estimated at $33 million. It was put up for auction with an installment plan of 3 years and investment obligations in the amount of 100 billion soums. 

Despite negotiations with domestic and foreign investors, no single investor has yet made concrete proposals for the purchase of the hotel.