Why is this important
The President is reforming the real estate sector and strengthening control over the housing market, urbanization, and mortgages — key sectors affecting the quality of life and the economy. The creation of two new organs provides a more systematic approach to the problem. By 2040, the goal is to double housing construction to 421 thousand facilities per year and increase the mortgage portfolio by 10 times to 56.7 billion soums. Personnel changes — the formation of a new management team for the strategic tasks of the state.
What happened
- Establishment of a Coordination Council for the Sustainable Development of Urbanization, the Housing and Mortgage Market.
- Creation of the National Committee for the Sustainable Development of Urbanization and the Housing Market.
- The Cadastre Agency is being transferred to the jurisdiction of the National Committee.
- Personnel changes: removal of the head of the tax committee and appointment of a new chairman.
- Strategic goals: to double the annual housing construction, to increase the mortgage portfolio by more than 10 times.
Coordination council
- Increasing the level of property ownership among the population.
- Growth in the share of residential buildings being built on the basis of renovation.
- Providing housing for socially vulnerable segments of the population.
- Prevention of excessive housing construction or its shortage.
National committee
- Coordination and development of urbanization processes.
- Development and implementation of an effective and stable housing policy, monitoring of renovation programs.
- Control over the construction of “New Uzbekistan” housing developments.
- Joint work with the Cabinet of Ministers on the development of cities and the construction environment.
Strategic goals until 2040
- Bringing the annual volume of residential buildings under construction to 421 thousand units.
- Increasing the mortgage loan portfolio by more than 10 times and bringing it to $56.7 billion.
- Development of renovation in the country, reduction of dilapidated housing in cities.
- Strengthening the management of land and cadastral records.
Personnel changes
- The appointment of Sherzod Kudbiyev as Chairman of the National Committee — his removal from the position of Chairman of the Tax Committee.
- Farrux Pulatov has been appointed Chairman of the Tax Committee and has been relieved of his duties as Director of the Cadastre Agency under the Ministry of Finance.
Context
- Uzbekistan strives to expand housing construction, modernize the system, and update the approach to urbanization.
- The housing sector is one of the largest drivers of the economy, as it affects infrastructure, employment, and living standards.
- Modernization of the structure is an attempt to strengthen control over the sphere, as well as to introduce a new approach to solving the tasks set.
- Personnel changes — the formation of a new management vertical for the implementation of long-term plans for housing reform.
