State Property Committee of Uzbekistan announced a tender to sell 100% stake in Markaziy (Central) Hotel, former Sheraton Tashkent and owned by Tashkent administration.
The starting price of hotel complex set at US$40.183 million. Tender applications will be received till 5 October 2007 and the results will be announced in the end of the year. The announcement said preference will be given to foreign investors that offer the highest bid for the said shareholding, and take on the minimum investment obligations in the amount of US$25.3 million.
Markaziy Hotel is four-star hotel and France’s Bouyques built it in 1997 for 242 million French franks. The project was financed due to credits of French bank, attracted under the guarantees of the Uzbek government.