A "bank of apartments" will be established in Tashkent.

An "apartment bank" will be established in Tashkent city to ensure compensation and provision of temporary housing for property owners in renovation areas. This is stipulated in the President's resolution on "Additional measures for the socio-economic development of Tashkent city in 2026–2027," as specified in the document.

 

According to the document, this system will be formed on an experimental basis until January 1, 2031, by the Tashkent Invest company, with the aim of effectively implementing renovation projects and protecting the rights of property owners.

 

Residential and non-residential premises for the "apartment bank" will be purchased based on a request for proposals. These housing units will be used as compensation for property owners in renovation areas or for temporary rental. The procedure for their distribution will be approved by the Tashkent City Council of People's Deputies.

 

In accordance with the resolution, Tashkent Invest may use funds from the Tashkent City Development Fund as well as other sources not prohibited by legislation when forming the "apartment bank."

 

Additionally, real estate considered state property in renovation areas will be transferred to the company's disposal at utilization value. Real estate owned by state-owned enterprises will be sold based on independent valuation with the condition of installment payments over three years.

 

Furthermore, the company is granted the right to construct or reconstruct facilities using funds from the Tashkent City Development Fund, involving investors and contractor organizations, and to sell them through electronic online auctions. Contractor organizations will be selected in accordance with the established procedure for ready-made business projects within the framework of renovation.

 

This resolution also provides for a number of other innovations. In particular, it establishes the mandatory creation of bookstores in shopping centers in Tashkent city with an area exceeding 5,000 square meters, establishes a Water Resources Management Center, and also puts up for public auction 35 markets and shopping complexes in the capital, along with their branches.