Tashkent, Uzbekistan (UzDaily.com) — A 25-hectare plot on the outskirts of Tashkent was sold at auction for 522 billion soums. The auction took place on 3 January on the E-auksion platform, involving a land plot located in the "Alisherobod" neighborhood of the Mirzo-Ulugbek district of Tashkent.

The entire process was completed quickly, lasting just over 10 minutes, with the only bid placed by the company Valid Trading, which offered 522.7 billion soums, 5% higher than the starting price.

The 25.5-hectare plot is located between the New Uzbekistan, Binokor, and Jasorat streets, across from the under-construction "Tashkent-East" airport. Plans for the plot include the construction of multi-story residential buildings (4-6 stories), office and hotel complexes, and commercial and service facilities. The plot is already equipped with the necessary utilities, including electricity, water supply, and gas pipelines.

The auction winner will lease the plot for 49 years, with the obligation to make the first payment within 15 business days and pay the remaining amount over the next three years.

Valid Trading, established in 2019 in the Zangiata district of Tashkent region, engages in wholesale trading. The company’s authorized capital is 1.04 billion soums, and the sole founder is Voris Abduvaliev. He is also the head of Gatter Group, which specializes in wholesale food and beverage distribution, and a co-owner, along with partners Ravshan Djamirov and Fathulla Sadykov.