Tashkent, Uzbekistan (UzDaily.com) -- In 2023, Uzbekistan plans to increase by 1.6 times and bring up to 90,000 annual volumes of new housing construction in the Yangi Uzbekiston and 161 other blocks, including by private contractors.

This is envisaged by the Decree of the President of Uzbekistan “On the State Program for the Implementation of the Development Strategy of New Uzbekistan for 2022–2026 in the “Year of Care for the Person and Quality Education”.

The head of Uzbekistan instructed to increase by 1.6 times and bring up to 90,000 annual volumes of new housing construction in the Yangi Uzbekiston and 161 other blocks, including by private contractors.

At the same time, builders must ensure the creation of mandatory car parking, including multi-storey and underground, in the design and construction of housing, social and commercial facilities.

The President of Uzbekistan instructed to allocate sufficient funds from the State budget to provide mortgage loans on the basis of market principles to 32,000 citizens, as well as subsidies to cover part of the down payment and interest payments to 11,000 citizens.

As part of the new procedure for providing housing to the population through mortgage loans based on market principles, it was instructed to develop and implement, on an experimental basis in the Tashkent region, the My First Home program for homeless citizens on the basis of property rights.

Due to the issuance and placement on international and domestic stock exchanges of mortgage bonds of JSC Mortgage Refinancing Company of Uzbekistan, the authorized capital of the company will be increased to the equivalent of US$100 million.

At the same time, funds raised through the placement of mortgage bonds will be placed in banks as resources for mortgage loans.