Uzbekistan to create a company for urban housing organization

Almaty. January 24. Silkroadnews – President of Uzbekistan Shavkat Mirziyoyev approved a resolution to establish the republican specialized engineering company “Uzshahar Kurilish Invest” (Uzgorstroyinvest), Trend wrote.

According to the resolution, the company to be entrusted with the functions of the customer of construction and reconstruction on a turn-key basis, including organization of financing and implementation of technical supervision over construction progress and available apartment buildings in urban areas to sell to population through preferential mortgage loans by the joint-stock commercial mortgage banks “Ipoteka-Bank”.

The initial authorized capital of “Uzshahar Kurilish Invest” has been determined as 1 billion som and will be formed out of the funds of the founders – the Fund for Reconstruction and Development of Uzbekistan (61% in the authorized capital), JSC “Uzmetkombinat”, JSC “Kyzylkumcement”, National Export-Import Insurance Company “Uzbekinvest” (10% each) and “Ipoteka-Bank” (9%).

The company has been provided with due privileges in the form of exemption from payment of all taxes and mandatory contributions to the republican Road Fund and to the extra-budgetary fund for reconstruction, renovations and equipping of educational and medical institutions under the Ministry of Finance.

In total, in 2017-2020 within the affordable housing program Uzbekistan plans to build 945 apartment buildings in cities throughout the country.

$1 = 3265.54 som as of January 24.