A Chinese company is set to construct residential, commercial, and social complexes in the town of "New Namangan" with a total investment of $750 million, according to the press service of the Namangan region's hokimiyat.
This week, a delegation led by the president of Jiangsu Tonke Real Estate Co., Ltd., member of the Advisory Council of Jiangsu Province in China, Yang Bo, visited the town of "New Namangan" for a working trip and selected sites for construction.
On January 9, a foreign enterprise named TK China town Namangan was registered. According to the Unified State Register of Enterprises, the company's activity, with a charter capital of 500 million sums, is focused on the construction of residential buildings. The sole founder and director of the firm is Yang Bo.
On a 66-hectare area, residential complexes, office, commercial, service infrastructure, a kindergarten, a school, and a mosque will be constructed.
Photo: press service of the Namangan region's hokimiyat
Additionally, the Chinese investors familiarized themselves with the operations of the "Namanganmash" enterprise, and visited the fishing cluster DB Group in Uchkurghan and the small industrial zone "Urikzor" in Chartak.
As part of the first phase of the "New Namangan" project, 184 houses with 8,500 apartments were built on an area of 330 hectares. Furthermore, small industrial zones have been organized on 145 hectares, creating 10,000 new jobs.
In March 2022, the president reviewed the project for the second phase of construction in the town of "New Namangan". Specifically, the construction of 171 houses with 20,000 apartments is planned on an area of 272 hectares.
Previously, Spot reported that Chinese companies are implementing projects worth $106 million in Nurafshan.