Discussions Held with Pakistani Company on Construction of Modern Residential Complexes in New Tashkent

Uzbekistan’s Ambassador Alisher Tukhtaev held talks with Umar Izhar, head of Pakistan’s Izhar Group.

The meeting was organized to ensure the implementation of tasks outlined during an open dialogue with investors and entrepreneurs chaired by the President of Uzbekistan on accelerating the construction of New Tashkent, as well as to attract foreign investors to major infrastructure and construction projects in the country.

At the beginning of the meeting, a presentation was delivered on ongoing development and construction activities in Uzbekistan, modern urban development initiatives, and infrastructure projects, with particular emphasis on the New Tashkent city development project.

It was noted that the total area of the New Tashkent project covers 20,000 hectares. During the first phase, plans call for the development of 6,000 hectares and the implementation of projects worth approximately US$50 billion. The new city is envisaged to include administrative buildings, residential complexes and commercial facilities, educational and cultural institutions, transport networks, engineering and utility infrastructure, and other key facilities.

In turn, Izhar Group head Umar Izhar provided an overview of the company’s main areas of activity, its experience in real estate development, and projects being implemented in international markets. He emphasized that the construction of modern residential complexes comprising cottages and villas is a particular focus of the company’s operations.

The parties also discussed opportunities to apply suitable cooperation models in the development of New Tashkent, drawing on the company’s experience in Türkiye and other countries. Particular attention was paid to mechanisms that could reduce the need for investors to make substantial upfront expenditures on land acquisition, enable construction to begin sooner, and facilitate the phased implementation of projects.

According to Umar Izhar, such an approach could help ensure the efficient use of investment resources, accelerate project implementation, and increase the pace of development in the New Tashkent area.

In addition, the parties exchanged views on a range of practical matters related to the implementation of investment projects, including technical and legal requirements, financing mechanisms, taxation, land allocation, mortgage and leasing opportunities, and construction regulations and standards.

Following the talks, an agreement was reached to arrange meetings with representatives of the relevant ministries and government agencies of Uzbekistan and to organize a visit to Uzbekistan by an Izhar Group delegation. These steps are intended to facilitate a more detailed examination and discussion of the terms and conditions for implementing investment projects.

Established in 1959, Izhar Group is one of Pakistan’s diversified business groups. The company operates in a number of sectors, including construction, engineering, procurement and construction (EPC) contracting, metal structure manufacturing, precast concrete production, engineering systems, and the development of residential and industrial facilities.

To date, the group has participated in the construction of more than 100 cement and mineral fertilizer plants, power facilities, airports, dams, hospitals, as well as industrial and commercial facilities across Pakistan.