JSC Tashkent Invest to Receive Exclusive Rights to Land and Markets of Uzbekistan's Capital

The President of Uzbekistan, Shavkat Mirziyoyev, approved measures aimed at the socio-economic development of Tashkent, which include the privatization of thirty-five markets and trade venues in the capital. The relevant decree was signed on July 27, 2026.

Goals of Privatization and Asset Sales

The main goal of this document is to reduce state participation in the economy and create new opportunities for the development of the service and trade sectors. All assets are planned to be sold through open auctions in the form of ready businesses, based on projects developed by the municipal company Tashkent Invest. Financing for the preparation of general plans will be carried out through the Tashkent City Development Fund.

Conditions for New Owners

According to the privatization terms, new owners are obliged to establish modern eco-markets, as well as retail, service, and entertainment facilities, and construct multi-level parking lots on the territory of the markets and commercial complexes. Land plots and real estate belonging to the markets will be transferred to Tashkent Invest ownership to increase the state's share. Real estate will be valued at residual value, while land plots will be valued using the maximum reduction coefficient of the land tax rate.

Role of Tashkent Invest

Tashkent Invest will be granted the right to carry out construction and restoration work on the transferred territories. After the sale of assets, the company will receive 1% of the transaction amount, as well as reimbursement of expenses related to the preparation and conduct of auctions.

List of Privatized Objects

The list of assets subject to privatization includes the Aviastroitel, Karakamysh, Kuyluk, Navruz, Sergeli, and Farkhad farmers' markets, seven branches of the Navruz market, six branches of the Sergeli market, five branches of the Karakamysh market, and two branches of the Yunusabad market. Additionally, the auctions will feature the Chilanzar, Bek Tupi, Beshkurgan, Parkent Universal, and Urikzor shopping complexes, parking zones of the Bek Tupi and Chilanzar shopping complexes, the specialized Yangiabad market along with its branch, and the Sergeli market.

The authorities of Tashkent plan to hold auctions for 35 markets, trade complexes, and their branches. Both significant city markets and smaller trading venues will be put up for open electronic auctions.

List of Objects and Basis for the Decision

Among the objects that will go through the auction are Urikzor, Parkent Market, 'Aviasozlar' market (KadySheva), Yangiabad market, Farhad Market, Beshkurgan, as well as other venues. This decision was formalized in a decree by President Shavkat Mirziyoyev concerning measures for the socio-economic development of Tashkent for the period 2026–2027.

List and Preparation for Sale

The general list includes markets such as Navruz, Sergely, Kuylyuksky, and Karakamyshsky, as well as the used car and spare parts market in Sergeli, in addition to numerous branches of large markets in the capital. Before any object is put up for sale, both a master plan and a business project will be developed for it. AO Tashkent Invest Kompaniyasi, in cooperation with the State Assets Management Agency and the Tashkent hokimiyat, will take responsibility for preparing these documents.

Terms of Implementation and Future Plans

One of the key requirements for the sale is the obligation to create modern eco-markets, as well as trade-service and entertainment complexes, including multi-level parking lots, on the sites of the sold objects. Furthermore, the document allows for the possibility of putting other food, goods, and specialized markets of Tashkent, their branches, and vacant territories up for open tender. Decisions on this matter will be made by the Cabinet of Ministers based on proposals from the capital's hokimiyat and the State Assets Management Agency.

According to the results of the first half of 2026, Tashkent, the capital of Uzbekistan, demonstrated the highest rates of economic growth among all regions of the country. This success was achieved through attracting a record volume of foreign investment, significant export growth, and the creation of about ten thousand new jobs.

Economic Indicators of the Capital

According to information provided by the city administration's press service, Tashkent's gross territorial product reached 226 trillion soums. This exceeds the figure for the same period last year by 13.3%, allowing the capital to surpass the projected figure of 11.2% and secure its leadership position in the republic.

Industrial and Investment Dynamics

The industrial sector also showed a positive trend: the volume of produced goods amounted to 109.6 trillion soums, which is 8% more than the previous year. However, the main driver of growth was investment. In the first six months, $4.3 billion in foreign investment and loans were brought into Tashkent's economy, which is one and a half times the volume of the previous year.

Project Implementation Results

Thanks to the funds received, 249 investment projects were launched in the capital. New production facilities with a total value of $657.5 million were commissioned under these projects, contributing to the creation of 9.8 thousand jobs. Additionally, exports from Tashkent enterprises exceeded $1.5 billion over six months, which is 43% more than the previous year.

Localization and Development Prospects

The localization program is actively promoted, within which 77 projects with a production volume of 4.9 trillion soums have been implemented, which is 48% higher than planned. Such initiatives help reduce imports, making products more affordable, and also strengthen cooperation between enterprises. The Hokimiyat considers the creation of jobs, the launch of modern production, the improvement of the population's living standards, and the development of the capital's industrial potential as key achievements.

It should be noted that World Bank analysts believe that due to reforms being carried out in logistics, tourism, and pharmaceuticals, Uzbekistan is capable of attracting between $5.2 and $6.4 billion in private investment and providing employment for over 300 thousand people.