Why is this important
The issue of introducing escrow accounts directly affects the primary housing market and the interests of buyers involved in shared construction. The dissemination of inaccurate information about the timing of the new requirements may affect citizens’ decisions to purchase real estate. Explaining the legal status of such norms is important for reducing risks for both shareholders and developers.
What happened
- Information appeared on social networks that the mandatory requirement to use escrow accounts when purchasing housing in Uzbekistan has come into force.
- The Ministry of Justice denied these data and stated that reports about the introduction of such a requirement from January 1 have no legal basis.
- The presidential decree, issued at the beginning of 2025, stipulated the preparation of a draft law on shared construction, however, relevant norms have not yet been introduced.
Numbers and facts
- The presidential decree on shared construction was adopted at the beginning of 2025 and provided for the development of a separate draft law.
- The draft law regulating shared construction was published by the Ministry of Justice in December 2025.
- The preparation of the draft law was to be completed by the end of March in cooperation with other agencies.
Context
- For now, the purchase of apartments in newly constructed houses can be carried out without the mandatory use of escrow accounts.
- The final conditions and deadlines for implementing the system will depend on the adoption of appropriate amendments to the legislation.
- Until this point, the market continues to operate under the current rules of shared construction.
