Uzbekistan puts state real estate privatisations online

Uzbekistan puts state real estate privatisations online
/ bne IntelliNews
By bne IntelliNews March 24, 2024

The Uzbekistan State Assets Management Agency (UzSAMA) has unveiled new regulations to modernise the auction process for state-owned real estate properties, covering areas up to 2,000 square metres.

This initiative aims to streamline the utilisation of vacant state properties through electronic online auctions, marking a significant shift towards digital governance and similar to the Ukrainian proZoro system.

Under the new framework, interested parties are mandated to submit their applications online through the "Davlat mulki" Information System, specifically for properties that fall within the specified size range. Following application submissions, dedicated personnel from the Centre for the Effective Use of State Property are tasked with conducting thorough on-site evaluations to ascertain the suitability of the properties for auction.

The outcome of these assessments will determine whether a property is eligible for inclusion in the electronic auctioning process, either for lease or privatisation purposes. Alternatively, properties may be deemed unfit for auction based on the evaluators' conclusions.

To ensure transparency and efficient communication, individuals whose applications lead to properties being listed for auction will receive notifications via SMS, including the designated lot numbers for the properties set to be auctioned.

This regulatory update by UzSAMA represents a move towards enhancing the efficiency and transparency of state real estate transactions in Uzbekistan. By adopting digital solutions for the application and notification processes, the government is poised to facilitate easier access to state-owned properties, encouraging broader participation in the privatisation and leasing of real estate assets.