Tashkent, Uzbekistan (UzDaily.com) —  The territory of the "Askiya" market, located in Yakkasaray district of Tashkent, has been listed for sale on the E-auksion platform.

The total area of the site is 1.83 hectares, of which 0.68 hectares are occupied by buildings and structures with a combined area of 7,439 square meters.

The market is situated in the Rakat neighborhood between Shota Rustaveli and Shahjahan streets.

The auction includes the market’s buildings and the land use rights for the plot on which it is located.

The shareholders of the market have set the starting price of the lot at 214.85 billion soums (approximately $16.8 million), inclusive of VAT. The auction is scheduled for 20 December at 10:00.

The future investor will be required to reconstruct the market while maintaining its operations and create a modern trade and service complex.

The project entails the construction of an eco-market with a minimum area of 3,000 square meters, a 1,200-square-meter cold storage facility, and a parking lot for 400 vehicles.

After completing the construction, the investor must transfer the eco-market, storage facility, and parking lot, occupying a total area of 4,200 square meters, to the market’s shareholders, regardless of their cost. The remaining 1.4 hectares of land can be utilized at the investor’s discretion.

The master plan for the project must be approved by the Tashkent city administration before construction begins. The agricultural market currently operating on the site may only be relocated within the project area after construction starts and based on a formal agreement.

Construction work must be carried out without interrupting the operations of the agricultural market. The market will be gradually relocated to the new eco-market zone upon the completion of construction.

Additionally, the investor is obligated to negotiate with private property owners within the market’s territory, providing compensation or equivalent premises through mutual agreement.

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

District khokim Nilufer Allabergenova noted that the market’s current infrastructure does not meet modern standards: the trading rows are outdoors, which is inconvenient for shoppers in adverse weather, and there are issues with parking and traffic organization.

According to Allabergenova, various investor proposals are under discussion.

The project aims to attract $150 million in direct foreign investments. Plans include the construction of a four-star hotel, a large shopping mall, and a recreational area with green spaces.

The revamped site will feature relaxation zones with benches, escalators, bike parking, restrooms, and free Wi-Fi access.