In Uzbekistan, banks are now allowed to purchase real estate from developers and lease it to businesses.

Uzbekistan, Tashkent – According to AN Podrobno.uz, the proposal from banks in Uzbekistan to purchase non-residential properties directly from developers for subsequent leasing or renting to entrepreneurs under favorable conditions has been approved. This was announced today by President Shavkat Mirziyoyev during a meeting focused on the development of the service sector, as reported by Podrobno.uz correspondent.

https://podrobno.uz/cat/economic/v-uzbekistane-bankam-razreshili-vykupat-nedvizhimost-u-zastroyshchikov-i-sdavat-v-arendu-biznesu/2025-02-07 08:12:43

As the head of state noted, this decision will enable the introduction of 50,000 square meters of non-residential space into circulation, generate budget revenues of 70 billion sums, and create 100,000 to 150,000 jobs.

Over the past three years, 3,000 multi-story buildings have been put into operation in the country, along with the creation of 38 million square meters of non-residential space. Developers are allowed to convert 10-15% of the areas of new buildings into non-residential categories; however, there is a lack of a system that connects developers interested in selling such premises with businesses needing rental and leasing options. The new mechanism approved by the president aims to address this issue.

A key advantage of the new system will be that leasing terms will be at least 15-20% cheaper than renting.

To implement this initiative, officials have been tasked with preparing a project package worth a total of 4 trillion sums for the rental of non-residential premises in sectors included in the state development plan, in collaboration with developers.