Mirziyoyev orders acceleration of construction of “New Uzbekistan” homes to fend off steep housing price inflation

By bne IntelliNews March 18, 2024

Uzbek President Shavkat Mirziyoyev has ordered the acceleration of the construction of homes in “New Uzbekistan” neighbourhoods, primarily with an eye on avoid steep housing price inflation.

Underlining the importance of expanding market supply of homes, Mirziyoyev, as reported by kun.uz, said: "In recent years, our country has gained considerable experience in housing construction due to a significant increase in construction activities.

“Now is the time for builders and governors to work diligently on reducing construction costs and improving housing quality. Which minister or governor is delving into the reasons for housing price increases and working on preventing them?”

The president called on regional governors to within two weeks each identify an additional 20 hectares—with the request set at 60 hectares for Tashkent—of non-agricultural lands for multi-storey residential construction. The lands should be auctioned off within two months, he added.

In all, Mirziyoyev mandated the completion and delivery of 474 housing units in “New Uzbekistan” neighborhoods by July 1.

Uzbekistan’s population, the biggest in Central Asia, is officially estimated at around 36.6mn people and rising.

Farhod Ermanov, chairman of the Council of Ministers of Karakalpakstan, Shavkatjon Abdurazzakov, governor of Namangan region, and Ulugbek Kasimov, governor of Surkhandarya region, were instructed to initiate construction work within 10 days on 16 buildings where construction has been delayed.

Mirziyoyev was also cited as saying: "You see, our population is growing rapidly. It is imperative to build corresponding housing, social, and production infrastructure. If we aim to please our people, housing remains a prime concern.

“Under the 2024 mortgage programme, 80,000 housing units are planned, which is insufficient. To achieve our grand goals, we must increase the volume of housing construction by at least 20 percent each year. Regional governors should not just rely on budget and bank funds but also attract investments themselves and implement renovation projects." 

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