The President of Uzbekistan with his Jan 13 Decree (available on Lex.uz) approved the establishment of the National specialized engineering company, UzShahar Qurilish Invest (transl. Uz Urban Construction Invest).
The company will function as the customer of turnkey construction and reconstruction projects of affordable multi-storied housing in cities, as part of the program for 2017-2020.
The company functions, in particular, will include establishing of financing and technical supervision of construction, and further hand-over of constructed houses to Ipoteka Bank for sale on preferential mortgage loans.
The company’s authorized capital in the amount of 1 billion soums will be formed by the Reconstruction and Development Fund of Uzbekistan, Ipoteka Bank, UzMetKombinat, KyzylkumCement and Uzbekinvest.
