Tashkent, Uzbekistan (UzDaily.com) -- Pursuant to the Decree of the President of the Republic of Uzbekistan dated May 13, 2019 No. UP-5715 “On Additional Measures for the Development and Expansion of the Mortgage Lending Market”, an analysis is made of the effectiveness of the implementation of targeted state programs for the construction of affordable housing, in line with the development of proposals for their unification and consolidation, providing for , including the revision of lending conditions in order to ensure the accessibility of residential buildings and apartments for the general population.

In order to further develop competition in the field of housing construction, as well as to improve and expand the practice of using mortgage lending mechanisms, the Ministry of Finance held a meeting with private construction companies.

The participants of the meeting were provided with information about upcoming changes in the state policy on housing construction, which includes, among other things, the development of competition in the field by attracting private companies and creating equal conditions for all participants.

During the meeting, private construction companies provided information on the housing finance system, the pricing mechanisms, the use of imported and local raw materials, the state of the sale of apartments.

Moreover, the issues of the infrastructure of the land plots for the construction, problems associated with connections to the engineering and communication networks were raised.

It was noted that residential complexes under construction by private companies are oriented mainly to middle and high income people. During the discussions, the issues of ensuring the accessibility of residential and multi-apartment buildings by private construction companies for wide sections of the population, including its socially vulnerable layers, in need of improving housing conditions as part of the introduced housing subsidization mechanism, were discussed.

At the same time, the meeting emphasized the need for additional measures to increase the availability of mortgage loans for all categories of the population based on market principles.

The meeting was attended by representatives of the Ministry of Finance, the Ministry of Construction, as well as private construction companies – “Vita Stroy”, “Olmos Qurilish Invest”, “Archidea Group” LLC, “Murad Buildings”, “NovaStroy” and others.