The State Assets Management Agency announced the call for submission of bids for the sale of the Uzbekistan Hotel in the center of Tashkent.
The initial price of the 80.13% belonging to the state is US$ 33 million.
According to the agency, the investor must take commitments to make 100 billion soums worth of investments within two years.
The state share is sold with the condition that the owner will preserve the core business activity (hotel services) for a period of 10 years, refurbishing the hotel without altering the facade and attracting the best management practices.
Uzbekistan Hotel is one of the Tashkent’s landmark buildings. The 4 star hotel is located in the centre of Tashkent near Amir Temur Square. The Uzbekistan Hotel is a mix of European and Uzbek architectural styles, one of the most attractive and prestigious buildings in Tashkent situated in the business center of the city,