Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev has signed a decree titled “On Additional Measures for the Further Development of the Housing and Mortgage Market,” outlining key directions for implementing a market-based mortgage lending program in 2025.

According to the document, 135,000 apartments with a total area of 8.1 million square meters are planned for construction across the country’s regions. The number of subsidies for compensating part of the down payment and interest payments on mortgage loans will increase 1.5 times, with 2.5 trillion soums allocated from the state budget for this purpose. Additionally, 20.9 trillion soums in mortgage loans will be provided to finance the housing and mortgage market.

Construction companies involved in building multi-apartment residential complexes in the "Yangi Uzbekistan" housing districts and other locations will receive 700 billion soums from the state budget and 3.0 trillion soums from commercial banks’ own funds as working capital.

Starting March 1, 2025, new locations for the "Yangi Uzbekistan" housing districts will be designated based on urbanization principles. From May 1, 2025, a new auction process for leasing land plots for multi-apartment residential construction will take effect: only legal entities that are VAT payers will be eligible to participate in the auctions, as well as engage in construction and sales of such properties.

Auction offers will specify a 15-day period for preparing pre-project documentation, two months for project design, and three months to commence construction. Clear deadlines for completion and commissioning of buildings will also be established.

Companies leasing land for multi-apartment construction will be exempt from land tax for the first 12 months. Additionally, starting March 1, 2025, construction firms building in the "Yangi Uzbekistan" housing districts will be eligible for commercial loans to replenish working capital for up to 24 months, including a 12-month grace period, with an interest rate not exceeding the Central Bank’s base rate by more than two percentage points.

From May 1, 2025, all processes—from the start of construction to obtaining operational permits—will be conducted online through the Transparent Construction system. The commissioning of multi-apartment residential buildings will require only approval from the Inspection for Supervision in Construction and Housing and Utility Services, as well as the State Fire Safety Authorities. The practice of instrumental-technical inspection for facilities registered with and built under the supervision of the Inspection will be abolished.

In the field of urban redevelopment, a new procedure will take effect from March 1, 2025: projects can only proceed with a notarized settlement agreement signed by all property owners. Owners will be offered several compensation options: a new apartment of the same size in a newly built house, with full coverage of relocation costs, including temporary rental housing during construction; full market-value compensation for the demolished property; or other forms of reimbursement agreed upon with project initiators.