Chinese company to invest $750 million in New Namangan project

This week, a delegation led by Yang Bo, President of Jiangsu Tonke Real Estate Co., Ltd. and a member of the Advisory Council of Jiangsu Province, visited "New Namangan" on a working trip. During the visit, they selected land plots for construction.

On January 9, a foreign enterprise named TK China Town Namangan was officially registered. According to the Unified State Register of Enterprises and Organizations, the company's core activity is listed as residential building construction. The enterprise, with an authorized capital of 500 million UZS, is solely owned and directed by Yang Bo.

The project spans a 66-hectare area and includes the construction of residential complexes, as well as office, commercial, and service infrastructure. Additional facilities will include a kindergarten, a school, and a mosque.

The Chinese investors also toured several local enterprises, including NamanganMash, the DB Group fishing cluster in Uchkurgan, and the "Urikzor" small industrial zone in Chartak.

In the first phase of the "New Namangan" project, 184 residential buildings with 8,500 apartments were constructed on a 330-hectare area. Additionally, small industrial zones were developed on 145 hectares, creating 10,000 new jobs.

In March 2022, the President of Uzbekistan reviewed plans for the second phase of the "New Namangan" project. This phase will involve the construction of 171 residential buildings with 20,000 apartments on a 272-hectare area.