President instructs to put up 60 hectares of land for auction for housing construction in Tashkent

On March 12, Shavkat Mirziyoyev ordered the auction of additional non-agricultural land plots for the construction of residential buildings, the Uzbekistan 24 TV channel reported referring to a meeting with the President on the construction of housing and “Yangi Uzbekiston” blocks.

The head of state instructed Minister of Construction Botir Zokirov, together with regional governors, to develop and ensure implementation of specific measures to reduce construction costs within two weeks.

Regional governors must, within two weeks, identify an additional 20 hectares of non-agricultural land and put these plots up for auction within two months.

The acting governor of Tashkent, Shavkat Umurzakov, was instructed to put 60 hectares of non-agricultural land up for auction.

Moreover, Umurzakov shared that in 2024, it is planned to complete the construction of approximately 20 thousand housing units in Tashkent, of which 25-30% should be “cheap” apartments. The capital’s administration also pays great attention to the renovation program, the head of the city added.

On Tuesday, the President announced the establishment of minimum financial stability requirements for construction and contracting organizations participating in land auctions. Contractors will be allowed to build multi-storey residential buildings depending on their rating level.

This year it is planned to build 100 thousand housing units and allocate 22.5 trillion soums from all sources to finance mortgages, including half of this amount for mortgage lending.