Pressing issues of the construction of multi-apartment buildings and ensure their accessibility for the general population discussed

Tashkent, Uzbekistan (UzDaily.com) -- On 27 September 2019, a meeting with private construction companies was held at the Ministry of Finance with the participation of consultants from the Asian Development Bank.

With the initiative of the Ministry of Finance the mission was organized in order to ensure the timely and high-quality implementation of the norms of the Decree of the President of the Republic of Uzbekistan from 13 May 2019 No. DP-5715 “On additional measures for the development and expansion of the mortgage lending market”. 

During the meeting, participants discussed current issues of building multi-apartment edifices and these constructions can be realized through mortgage lending mechanisms.

The consultant of ADB provided information on foreign experience in construction of housing for wide strata of population.

Private construction companies explained the basic mechanisms of constructing houses and selling apartments to the population, as well as presented proposals for the development of clear legal mechanisms governing the processes of construction and sale of housing, including the need to revise construction standards.

An exchange of views took place regarding the participation of private construction companies in realization of the state housing program, the expansion of the practice of using mortgage lending mechanisms, the introduction of a subsidy system for the purchase of housing by socially vulnerable stratum of the population.

Also, special attention was paid to factors affecting the formation and changes in housing prices.

In addition to this, legal problems encountered by private construction companies during the commissioning of residential buildings were discussed.

Representatives of the Ministry of Finance, LLC Murad Buildings, LLC Golden House, LLC Olmos Qurilish Invest, LLC Novastroy participated in the meeting.

Relevant conclusions were adopted following the meeting.