Uzbekistan Construction Market Size, Trends and Forecasts 2024-2028: Average Annual Growth of 5% Forecast During 2024 to 2028, Supported by "New Uzbekistan Strategy" and "Digital Uzbekistan 2030"

Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Uzbekistan Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to's offering.

The construction industry in Uzbekistan is expected to expand by 5.8% in real terms in 2024, supported by public and private sector investment in the energy, transport, and residential sectors, coupled with rising foreign direct investment in the country.

The government set a target in February 2024 to attract UZS90.7 trillion ($7.2 billion) in foreign investment in the first quarter of this year, to fuel economic growth and enhance development across various sectors. According to the Ministry of Investment, Industry and Trade, a total of 7,656 projects are planned to be implemented this year under the RIP (Regional Investment Programs) framework. As a result, in January 2024 alone, 466 projects were launched in the Kashkadarya (67 projects), Jizzakh (65 projects), and Surkhandarya (45 projects) regions.

According to the 2024 budget, published by the Ministry of Economy and Finance of Uzbekistan in December 2023, total revenue and expenditure will amount to UZS375 trillion ($22.4 billion) and UZS427.6 trillion ($23.2 billion), respectively, this year. Approximately 50% of the overall budget expenditure - equivalent to UZS151.5 trillion ($12 billion) - will be spent on education, healthcare, social protection, and the development of science, culture and sports.

Uzbekistan's construction industry is expected to register an average annual growth of 5% from 2024 to 2028, supported by investment as part of the "Development Strategy of the New Uzbekistan for 2022-2026 (New Uzbekistan Strategy)" and "Digital Uzbekistan 2030", which aims to meet escalating data demand in the country, driven by the increased digitalization across industry verticals. The main targets under the New Uzbekistan Strategy includes an export target of UZS361.9 billion ($28.7 million); attracting UZS844.3 trillion ($67 billion) in foreign investment - including UZS168.9 billion ($13.4 million) under the public private partnership (PPP) framework; generating 25% of power from renewables, and attracting nine million foreign tourists annually by 2026.

The report provides detailed market analysis, information, and insights into Uzbekistan's construction industry, including:

  • Uzbekistan's construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Uzbekistan's construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Report Scope

  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Uzbekistan, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants

Report Benefits

  • Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using the analyst's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

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