135,000 Apartments in Multi-Story Buildings Planned for 2025
President Shavkat Mirziyoyev chaired a videoconference meeting on January 23 to assess the progress of the mortgage program in 2024 and set forth plans for 2025.
In the past three years, individuals have purchased 47 hectares of land through auctions for the construction of multi-story buildings. However, most of these sites have yet to see any construction activity. In an effort to attract capable developers, it has been decided that land for multi-story buildings will now only be auctioned to VAT-paying legal entities.
Currently, there are 14,775 multi-story buildings without assigned ownership for adjacent land, leading to unclear service boundaries for management-service companies responsible for their maintenance. Authorities have been given the task of determining the boundaries of these lands and assigning ownership accordingly.
Developers will now be required to sign contracts with service companies before delivering completed buildings and must organize training for these companies, allocating 2% of construction costs towards creating green spaces around the buildings.
The construction of 120,000 apartments in multi-story buildings is planned for 2025, with an additional 15,000 apartments to be built in New Tashkent utilizing green energy. To ensure energy sustainability, a 100-megawatt-hour energy storage system will be installed through public-private partnerships, and a centralized trigeneration system will manage heating and cooling for buildings in New Tashkent.
All new buildings and structures will be required to meet high energy efficiency standards, with transportation, lighting systems, and charging stations complying with strict “green” energy requirements.
President Mirziyoyev emphasized the gradual transformation of newly constructed multi-story buildings into green energy homes across all regions. Developers who sign agreements with solar power plants to supply energy for new residential buildings will be exempt from profit tax for such projects, and loans for these developments will be offered at interest rates 2% lower than the standard rate.
This initiative aims to reduce developers’ costs, making electricity more affordable for residents of these green homes, while also providing developers with improved opportunities to secure funding from international sources.
