Arjun Construction acquired Afrosiyob Palace Hotel

Tashkent, Uzbekistan (UzDaily.com) -- Arjun Construction purchased the Afrosiyob Palace hotel complex in Samarkand for 43.3 billion soums. This was reported by the press service of the State Assets Management Agency.

The hotel auction was held on 7 December. The starting price of the complex was 27.43 billion soums.

Three participants took part in the auction. The winner was determined after 29 steps. Arjun Construction offered over 43.3 billion soums for this lot.

According to the terms of the auction, Afrosiab Palace is to become a 4-star hotel with at least one presidential suite by April 1, 2022.

Reconstruction must be coordinated with the Ministry of Culture and UNESCO. The winner of the auction will also pay off accounts payable in the amount of 1.13 billion soums.