The National Committee for Urbanization and Sustainable Development of the Housing Market has called for escrow accounts to be implemented for home purchases, after missed handover deadlines, unrefunded buyers and criminal cases against the management of several construction companies.
The committee said it is unacceptable for individuals who have paid for housing to be left with neither the promised apartment nor a way to recover their money.
Under an escrow system, buyers’ money would be held in a special bank account and released to the developer only after set conditions are met, significantly reducing the risk of fraud and misuse of funds, the committee said. Another developer could also be brought in quickly if serious problems arise during construction.
“Faster implementation of the escrow system would be an important step toward preventing problem situations and restoring public ’confidence” in the market for housing under construction, the committee said.
The mechanism is provided for in the Shared Construction of Apartment Buildings and Other Real Estate Law, a bill now under consideration in the Legislative Chamber of the Oliy Majlis.
The committee’s statement did not name specific companies. Marat Hamdamov, owner of the Imarat Development project, has been detained and named a suspect in a case opened on Nov. 1 by the Tashkent City Police Department against the management of Imarat Development LLC. The case concerns suspected fraud and abuse of authority. A second man, identified by the initials J.A., was also detained.
The case follows complaints that apartments were not handed over by contractual deadlines. In July 2025, a construction oversight inspectorate found violations at the Sergeli City complex in Kuyi Chirchik district, Tashkent province, and temporarily suspended work on five blocks. Hamdamov said work had been suspended temporarily, not halted.
Buyers said they had been unable to recover their money for months, that sales managers presented projects outside the capital as located in Tashkent, and that the company imposed fines, then stopped refunds, citing financial difficulties. Guilt has not been established.
