In 2025, Uzbekistan plans to construct homes featuring 120,000 apartments.

The day before, President Shavkat Mirziyoyev reviewed a presentation on the system for guaranteeing citizens' funds during housing construction.

It was noted that the population of Uzbekistan has exceeded 37 million people. This year alone, 215,000 new families have been established, significantly increasing the demand for housing.

However, against the backdrop of heightened demand in this sector, unscrupulous business practices have emerged. The lack of an organized payment system, digitalization, and transparency creates favorable conditions for abuse. Many citizens are transferring funds for new housing directly to developers, bypassing banks, which contributes to the growth of the shadow sector. Often, the deadlines for housing delivery are prolonged, and the funds deposited become frozen. Shared participation agreements are frequently not officially registered and are structured in a way that serves the interests of dishonest developers.

In this regard, at a meeting on September 23, the President instructed the development of a system that guarantees the protection of citizens' funds when purchasing housing. Relevant proposals were discussed during the presentation.

As mentioned, the escrow system has proven effective in foreign experience. According to this model, an escrow account will be opened in a commercial bank for each construction project based on an agreement between the client and the bank. Payments for the property will be conducted through this account. From the funds accumulated in the account, commercial banks will be able to provide the client with loans at a reduced interest rate. After the construction is completed, the funds from the buyer's escrow account will be transferred to the developer's account. In the event that the developer fails to meet their obligations, these funds will be returned to the owner. Funds in the escrow account cannot be subject to seizure.

The President approved the proposals and instructed the development of a legal framework for the system, as well as its integration into the ministries and agencies related to the construction sector.