Benefits for investors will be expanded in New Tashkent

Benefits for investors to be expanded in New Tashkent

Measures have been established in New Tashkent to support investor initiatives, ease construction processes, and encourage the construction of commercial and social facilities.

The President emphasized that the city's master plan should not be an obstacle to investors' initiatives. The task was set to simplify the procedure for considering investors' proposals, ensure fast and transparent decision-making, as well as to increase the number of ready-made projects.

Out of the 54 lots sold so far, only three have a project value exceeding $100 million. To increase the number of large commercial facilities, the practice of land allocation based on the "Swiss challenge" principle will be introduced. Under this system, the initiative will be publicly announced, and if no better proposal is submitted, the land will be awarded to the first initiator.

Additionally, infrastructure fees will be reduced by three times for retail, service, and business centers; five times for hotel and tourism facilities; and ten times for cultural and entertainment venues. For private kindergartens, schools, and hospitals, the fee will be set at one percent. The benefits will also apply to projects that have already commenced construction.

An expedited procedure will also be introduced for unique projects designed by the world's leading architects, simplifying processes from design to commissioning of the facility.