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Uzbekistan
36 million
Population
$80.39 billion
GDP
$11.7 billion
Scope of construction work (2022)
$2.5 billion
Foreign direct investments (2022)
Main advantages of the Uzbekistan market:
Surge in construction work
There is an active construction boom in Uzbekistan, which is confirmed by statistics on the production of building materials and the volume of space commissioned. The government has taken steps to attract investment in the real estate sector, including tax incentives and simplified administrative procedures, creating an enabling environment for developers and investors.
Stable geopolitical situation
From a geopolitical point of view, Uzbekistan is characterized by high stability.
Strategic location
Located in the center of Asia, Uzbekistan plays a key role on the Silk Road, remaining a crossroads for the movement of people, goods and ideas between Europe and Asia. The particularly advantageous proximity to China has led to significant investment in the region through China's Silk Road Initiative, supporting infrastructure development and trade links.
Stimulating entrepreneurship
Entrepreneurs with a clean “credit and tax history” will have their collateral requirement reduced when receiving a loan to expand their activities by 50%. Between 2024 and 2026, the Business Development Bank and the Enterprise Development Company plan to issue Eurobonds worth $300 million each on international capital markets. These funds will be used to develop entrepreneurship in Uzbekistan.
Tashkent
Economic and social factors.
Total income per capita in Tashkent reaches 37.5 million UZS, which is 47% higher than the level throughout the republic (17.8 million UZS). In addition, in comparison with other regions, Tashkent occupies a leading position in terms of population income. From 2017 to 2022, construction in the city grew at a CAGR of 40%.
Population:
3 million
GRP:
Increased by 23%
Income per capita:
Increase by 47%
CAGR 40%
Construction volumes in Tashkent, billion UZS
The cost per square meter in Tashkent varies between $600-$1100. An important trend is also the focus on sustainable and energy-efficient buildings, which is driven both by customer demand for environmentally friendly housing and government support for sustainable development. The land market is also the main driver of price growth in the capital, with the greatest secondary impact on pricing in the primary real estate sector. During the first nine months of 2023, the volume of mortgage loans in Tashkent increased by 19% compared to the same period the previous year. The capital's share in the total volume of mortgage loans issued throughout the republic is 31%, which indicates the continued high demand for housing through mortgage lending and the dynamic development of the real estate market in the city.
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