Why is this important
The project will become a notable point in the reconstruction of the city center: the combination of housing, international-level hotels, offices, and trading spaces will create new opportunities for commerce, housing, and urban life. This is also a signal to investors about the maturity of Uzbekistan’s real estate market and its readiness for major infrastructure projects.
What will happen
- The total area of the complex will exceed 100,000 m²;
- Shopping and hotel zones — 20,000 m² each;
- Offices — about 14,000 m²;
- Improvement: pedestrian streets, green zones, public spaces;
- Architectural concept — by Sergey Choban (Thoban Voss).
- The company declares that the investments are its own, without bank loans;
- The first stage (partially) will be completed in 2028, and the full — by the end of 2029.
What they said
Investments will be made from Manar Development’s own funds, without attracting bank loans, — said Davron Fayzimatov, CEO.
Context
The Chorsu Hotel was acquired in 2020 by the company Ittihad International Investment (UAE), but its further participation in the project was not confirmed.
Manar Group was registered in 2025 (authorized capital of 130 billion soums), the founder is Mirzayev Payzullajon, affiliated with Orient Group. The management of the new project has experience in construction and development (previously worked at Golden House and Orient Group).
Проект вписывается в тренд масштабной реновации центральных территорий городов Узбекистана и привлечения частного капитала в городскую инфраструктуру.
