Hamkorbank Buys Tashkent Ministry Property for 196.6 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — Hamkorbank has acquired an administrative building previously belonging to the Ministry of Construction and Housing and Communal Services in Tashkent for 196.6 billion soums at a repeat auction held on May 15 on the E-auksion platform.

The property is a seven-story administrative building located at the intersection of Abdulla Qadiri and Abay streets in the Urda residential area of the Shaykhantakhur district of Tashkent. The office of Turonbank and the Tashkent City Tax Department are located nearby.

The land plot covers no more than 0.5 hectares, while the total area of buildings and structures amounts to 11,700 square meters. The facility is fully equipped with engineering infrastructure, including water, gas, electricity supply, and a sewage system.

The starting price of the lot was 187.23 billion soums.

Hamkorbank was declared the winner of the auction after offering 196.6 billion soums, equivalent to approximately 16.4 million US dollars, exceeding the starting price by about 5 percent.

The auction concluded in less than 11 minutes. The bank reportedly placed its bid within seconds of the start of trading. Final completion of the deal is expected after the signing of the contract.

The asset had previously been offered for sale. In November 2025, it was included in the state privatization program, and in December the winning bid was placed by the construction company O’zshahar Qurilish Invest at 182.47 billion soums.

It is also noted that within the privatization program, the State Assets Management Agency has been auctioning other properties in Tashkent, including ministry and government buildings. Several institutions are expected to be relocated to New Tashkent as part of ongoing administrative reforms.