Baku, Azerbaijan, February 8
Trend:
Tashkent Mayor's Office (Uzbekistan) explained that the increase in the rent of state property by averagely 70 percent is due to a gradual transition to market economy, Trend reports via Gazeta.uz.
The city administration approved the minimum rental rates for the use of state real estate on January 11. The document states that, the average rental price increased by 70 percent compared to last year, while the size of the indexation was about 20 percent in 2018, in 2017 - 10 percent, in 2016 - 12 percent.
“The cost of renting public premises was balanced against the rent of private sector premises. For instance, the rent for 1 square meter in the private sector at the moment ranges from $5 to $20 and the rental of state property was much lower, ” noted the office.
Profits from the lease of state property will be directed to local budgets, the funds from which will later serve the development of the investment climate of Tashkent, the city administration stressed.