80% stake in Soviet Brutalist Hotel Uzbekistan bought by Singapore's Bashan Investment Group

80% stake in Soviet Brutalist Hotel Uzbekistan bought by Singapore's Bashan Investment Group
If you want Soviet Brutalist, you want Hotel Uzbekistan.
By bne IntelIiNews May 29, 2020

Singapore's Bashan Investment Group has bought an 80.13% stake in Hotel Uzbekistan, regarded as a prized landmark example of Soviet Brutalist architecture, for $23.2mn after offering the highest bid. 

The bidders included six companies from the UK, Turkey, the UAE and Singapore. 

The shares in the 17-storey and 254-room Hotel Uzbekistan, built 46 years ago in the heart of Tashkent and spoken of as Uzbekistan's most famous hotel, were sold by the State Asset Management Agency. 

The $23.2mn amount will be paid within the next 24 months. Bashan is also required to invest an additional UZS400bn (€35.7mn) in the next 18 months.

Hotel Uzbekistan boasts a huge ballroom, very popular with wedding parties. Its design features geometric shapes with visible local influences, minimal ornamentation and a flat roof, all features common to Soviet architecture.

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