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Demand for property growing in Uzbekistan

Business Materials 17 April 2020 11:23 (UTC +04:00)
Demand for property growing in Uzbekistan

BAKU, Azerbaijan, Apr. 17

By Ilkin Seyfaddini – Trend:

At online auction of the Center for Organization of Electronic Online Auctions SUE (state unitary enterprise) which was held during the last week, 422 items of property with an initial value of 10.4 billion soum ($1 million) were sold for 13.4 billion soum ($1.3 million), Trend reports citing Uzbek media.

The online auction attracted 3,224 participants. The property for 6.4 billion soum ($637,121) was sold according to the executive documents, property for 3.6 billion soum ($358.380) was sold according to the order of legal entities and individuals, and 55 state property objects were leased for 398 million soum ($39,620).

Some 101 entrepreneurial and 152 land plots for housing construction were sold for 2.4 billion soum ($238,920). As a result of sale of 10 empty state objects, the participants made investments worth 3.1 billion soums ($308,605) and opened 75 job places.

Compared to the previous week, the number of participants increased by 2.5 times from 1,294, sale of empty buildings - by 40 percent (six buildings), sale of land plots for entrepreneurial activity by 100 percent (51 units), sale of land plots for housing construction by 75 percent (87 units).

There are over 5,200 units of property on the current trading floor, and during the quarantine period, it can be purchased through open auctions.

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