CMWP: Сommercial Real Estate Market in Uzbekistan Grown by 50%

According to the consulting company Commonwealth Partnership (CMWP), the commercial real estate market in Uzbekistan has grown by 46% over the past year, reports Kursiv Uzbekistan, based on the study results in the press release.

CMWP reports that the average asking rate on the first floors of quality shopping centers in Tashkent was $41 per square meter at the end of the year’s first half, representing a 2.5% increase.

In addition, the number of international retailers entering the Uzbek market has significantly increased over the past couple of years, with over 20 global market players opening outlets in the country during this time.

The report also predicts a positive trend in the total volume of retail space by 2025 due to the opening of new quality shopping centers, with the total area of new shopping centers reaching about 153,000 square meters.

Kursiv Uzbekistan has also reported on housing costs in Tashkent.