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Construction of new houses in Uzbekistan will double

Uzbekistan, Tashkent – ​​AN Podrobno.uz. President Shavkat Mirziyoyev ordered to double the amount of housing built annually and increase the portfolio of mortgage loans by more than ten times, Podrobno.uz correspondent reports.

The relevant orders are contained in the decree signed by the head of state on measures for the sustainable development of the housing and mortgage lending market. The document sets targets for the development of the housing sector until 2040.

Thus, the annual volume of housing construction will be increased to 421 thousand objects, and the portfolio of mortgage loans should reach $56.7 billion. It is planned that by 2040 the share of modern housing in the country will be 50%.

Among the priority areas for the development of the housing sector are support for urbanization processes, improvement of the urban environment in large agglomerations and continuation of work on the construction of the Yangi Uzbekistan massifs.

Particular attention is paid to attracting bank financing and funds from institutional investors to the housing market, including expanding the use of mortgage instruments. The document also provides for the protection of the rights of citizens participating in shared-equity construction, and a comprehensive reform of the industry based on the principle of “Unified Housing Life Cycle”.

Earlier, the president appointed Sherzod Kudbiev to the position of chairman of the National Committee for Sustainable Development of Urbanization and the Housing Market. Previously, he served as head of the Tax Committee.

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