Major hotel in Uzbekistan put up for sale

Central Asia Materials 5 December 2017 09:06 (UTC +04:00)

Baku, Azerbaijan, Dec. 4

By Nigar Guliyeva -Trend:

Uzbekistan offers foreign investors to purchase the former hotel complex Bukhara Palace. The starting price of the lot is 26 billion soums.

The Uzbek State Committee on Competition reported that the total land area of ​​the hotel complex is 1.89100 hectares, the area of ​​buildings and structures is 8581.16 square meters.

The auction will be held on Dec. 20 in the auction hall of the State Committee of Competition of the Bukhara region. Under the rules, the contract of sale is concluded within a period not later than 20 days after signing the protocol on the results of the auction bargaining.

Applicants must deposit at least 10 percent of the initial value of the state asset on the requisites of the bidders.

The former Bukhara Palace Hotel complex will be sold in accordance with the presidential decree.

The Bukhara Palace Hotel complex designed for 223 rooms, was opened in 1996. The hotel has several restaurants, bars, a teahouse, a nightclub and a swimming pool. Also the hotel has a conference hall, rooms for business negotiations and a business center.

The official exchange rate for December 4 is 8096.88 UZS / USD.