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Developers in Tashkent to Give Up 15% of Apartments to the City

Monday 16 July 2018

TASHKENT (UzTAG) — Developers of new apartment buildings in Tashkent were obliged to give 15% of apartments to local governments (hokimiyat) on the basis of public-private partnership (PPP).

Jahongir Artykkhodzhaev

The agreement on this was achieved within the framework of the first meeting of local and foreign investors held in the capital of Uzbekistan with the leadership of the Tashkent hokimiyat.

Within the framework of the meeting with the hokim of the city Jahongir Artykkhodzhaev, business entities presented 55 major projects in 11 districts of the capital, which are aimed at developing the infrastructure of Tashkent, creating new production facilities, and introducing new services.

According to the agreement on the results of the meeting, on the basis of PPP, hokimiyat will allocate land for the construction of apartment buildings. After the completion of construction, developers will not pay taxes to the state on their sale, but instead will allocate 10-15% of apartments to the hokimiyat. In turn, the apartments plan to provide full orphans, disabled people, destitute, poor people in need of housing.

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