Housing construction in Uzbekistan will accelerate significantly in the coming years. This was reported by Zamin.uz.
According to a new decree signed by the President on November 20, by 2040 the number of houses built annually will double. This was reported by zamin.uz.
The main goal of this decision is to create comfortable living conditions amid population growth and urbanization processes. The state plans to stabilize the housing market, balance construction processes, and establish effective management in the sector.
According to the decree, by 2040 the annual volume of housing construction will reach 421 thousand units. In addition, the volume of mortgage loans is expected to expand significantly, reaching 56.7 billion dollars.
Such changes will enable banks and other investors to actively participate in the housing market. Among the priority directions set out in the document are the development of large agglomerations, consistent construction of the “New Uzbekistan” districts, and increasing the share of modern residential housing in the housing stock to 50 percent.
At the same time, serious attention is paid to protecting the rights of citizens participating in shared construction processes. Overall, the new decree aims to fundamentally reform the housing sector and manage all stages based on the principle of a “single life cycle.”
The state aims to improve all processes from construction to financing and utilization. These reforms are expected to help solve housing problems for many families and yield practical results in the coming decades.
This is not just a promise, but a sign of the beginning of major changes.
