Uzbek Developers Fined Over Illegal Property Advertising

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's Competition Promotion Committee has imposed financial sanctions on construction companies Elita Stroy Building and Glamur Gold for violating advertising legislation.

According to the committee, regulations governing the construction of apartment buildings under shared-equity financing, approved by Presidential Resolution No. PP-4732 of 27 May 2020, prohibit developers from advertising projects before they are entered into the electronic registry of companies authorised to attract funds from citizens under shared-equity agreements.

The committee's investigation found that residential developments being built by Elita Stroy Building and Glamur Gold had not been included in the required electronic registry. Despite this, advertisements for the projects were published on social media.

The committee noted that Article 16 of the Law on Advertising prohibits advertising goods and services whose production or sale is prohibited by law, as well as goods and services for which the required legal authorisations have not been obtained.

Following its review of the case materials, the committee's special commission found both companies in violation of the legislation and decided to impose financial sanctions.

The developers were also issued binding orders requiring them to stop the violations and prevent similar breaches in the future.