Non-agricultural land in Uzbekistan to be gradually privatized

Business Materials 18 October 2018 11:36 (UTC +04:00)

Baku, Azerbaijan, Oct. 18


Non-agricultural land plots in Uzbekistan are planned to be gradually privatized, Uzbek media reported referring to the draft presidential decree developed by the Ministry of Justice.

The project provides that the privatization of land plots will be carried out only in respect of land plots located in settlements with master plans and detailed planning projects, as well as in the presence of cadastral documents on real estate.

Until Jan. 1, 2021, it is proposed to set a fee for the privatization of the plots by their cadastral valuation, determined depending on the location, availability of communication and other conditions, and after January 1, 2021 - at market value.

It is expected that the adoption of the document will allow the country to become more attractive for foreign investments, mobilize domestic investments in the economy and eliminate outdated land legislation, and will also contribute to the involvement of land in civilian circulation.