Tashkent, Uzbekistan (UzDaily.com) — The Committee for the Development of Competition and Protection of Consumer Rights has approved the deal for the Emirati holding company Ittihad Investment Central Asia Holding Ltd. to acquire 100% of the shares in Chorsu Real-Estate Development. This was reported by the press service of the department.

Ittihad Investment Central Asia Holding Ltd. is a specialized investment holding founded in 2008. Over the years, it has invested in more than 20 portfolio companies worldwide. In 2023, the company’s turnover amounted to US$2.8 billion, export volume was US$2 billion, and investments reached US$1.4 billion.

According to the analysis conducted by a special commission, it was determined that the economic concentration from this deal will not negatively impact competition in the market, leading to the approval of the transaction. According to the Unified State Register of Enterprises and Organizations (EGRPO), the founder of Chorsu Real-Estate Development is an Emirati company.

Chorsu Real-Estate Development was registered in May 2024. The company’s authorized capital amounts to 102.6 billion soums, and its primary activity is residential building construction.