Tashkent, Uzbekistan (UzDaily.com) — The Chinese company Sheng Ke-International won the auction for the "Askia" market complex in Tashkent.

On December 20, 2024, the auction for the territory, buildings, and structures of the "Askia" market in the Yakkasaray district of Tashkent concluded on the E-auksion platform.

The auction, which had two participants, lasted 15 minutes and ended with a single bid from Sheng Ke-International, which offered 225.59 billion soums, 5% above the starting price.

The company was registered on 23 May 2024, and specializes in construction work, with a statutory capital of 68 billion soums.

In November, the market’s shareholders put the lot up for auction with a starting price of 214.85 billion soums (about US$16.8 million), including VAT.

The investor will be required to carry out a reconstruction of the market while maintaining its operations and create a modern commercial and service complex.

The project includes the construction of an eco-market with an area of at least 3,000 square meters, a refrigerated warehouse of 1,200 square meters, and a parking lot for 400 vehicles.

Upon completion of the construction works, the investor must transfer the eco-market, warehouse, and parking area, totaling 42 acres, to the market’s shareholders, regardless of their cost. The remaining 1.4 hectares of land can be used by the investor at their discretion.

The project’s general plan must be approved by the Tashkent Khokimiyat before construction begins. The agricultural market located on the premises may be relocated within the project area only after construction has started, based on an official act.

The construction work must be carried out without interrupting the agricultural market’s operations, with the market gradually moved to the new eco-market zone after the construction is completed.

Additionally, the investor will need to negotiate with the private property owners within the market area, providing compensation or equivalent spaces as agreed upon.

On 16 November, the Yakkasaray district Khokimiyat presented the market reconstruction project.

Khokim Nilufar Allabergenova noted that the current infrastructure of the market does not meet modern standards: the open-air trading rows are inconvenient for customers in bad weather, and there are issues with parking and traffic organization.

According to Allabergenova, various investor proposals are being discussed.

The project aims to attract $150 million in direct foreign investments. It is planned to build a four-star hotel, a large shopping center, and a recreational area with green spaces.

The updated area will feature rest zones with benches, escalators, bicycle parking, toilets, and free Wi-Fi access.