A new approach to selling land plots has been introduced in Uzbekistan, which involves issuing them in the format of 'ready packages'. Under this mechanism, city administrations are empowered to put land up for auction while possessing pre-approved technical specifications and all necessary permits for building structures.
This change is enshrined in Presidential Decree No. 177, aimed at accelerating the privatization process. Funding for the costs associated with creating such a 'package' is covered by local budget funds, after which these expenses are factored into the initial lot price.
The initial application of this mechanism will be focused on territories where master plans have already been approved. If a plot does not find a buyer even after its price is reduced, it can be transferred to private business for the implementation of the planned project in exchange for a share in the company's charter capital. The entrepreneur retains the option to buy back this share in the future.
Furthermore, investors who contribute at least half the cost of state property are granted the right to reconstruct purchased objects or dismantle them to build new structures. Participants in Tashkent's industrial zones have the opportunity to acquire buildings and land after fulfilling established investment and social obligations.
Previously, there were reports about plans to place land plots on auctions with ready construction permits. This would allow entrepreneurs to immediately begin construction after acquiring the land, bypassing the lengthy permitting process, which could take from six to twelve months.