Tashkent, Uzbekistan (UzDaily.com) -- Experts from the Institute of Macroeconomic and Regional Research (IMRI) analyzed the volume of auction sales of non-agricultural land plots by type of use.

Non-agricultural land is put up for auction based on ownership and lease (for business and multi-apartment construction).

During the period from January to October 2023, 720,600 (20,300 lots) of land under ownership and 3,561 hectares (44,000 lots) of land under lease were put up for auction through the AIS "YERELEKTRON".

The volume of lands put up for auction in October 2023 increased by 12.7 times compared to the beginning of the year, and the number of lots increased by 6.8 times.

The analysis showed that the volume of land sold under ownership increased by 15 times, the number of lots - by 12.3 times.

The volume of land sold for business activities on a lease basis increased 12.9 times, the number of lots - 5.4 times. The sale of land on a leasehold basis will contribute to the accelerated development of business activities and the creation of new jobs.

The volume of land sold for the construction of multi-apartment housing increased by 6.8 times, the number of plots - by 4.9 times. This indicates a high interest in land ownership.

And an increase in the volume of land sold for the construction of apartment buildings helps meet the housing needs of the population.

In general, increased sales of all types of land plots will increase revenues to the local budget and these funds will serve to develop local infrastructure and improve urban planning.

In particular, as a result of the increase in the volume of land plots put up for auction, the local budget received 994 billion soums.

It is expected that these funds will be used:

• for external engineering and communications support for the “New Uzbekistan” areas, in state housing programs;
• as well as for the development of master plans for settlements and detailed planning projects;
• to finance compensation for property damage to individuals and legal entities.