“Chorsu” hotel has been sold for 17 billion soums

11:16 19 February 2020 Economy
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The building is put up for auction at the beginning price of 1 soum. In the end, it's sold to $ 16.9 billion. It's informed by the E-Performance Auction.

Investment company Ittihad International Investment LLC, headquartered in the United Arab Emirates, won the auction lasting more than 10 hours. Its main rival, Fajr Mustaqbal General Trading LLC, said it would pay slightly less (16.8 billion soums).

With an active investment commitment, the buyer will earn at least $ 25 million in two years. It is expected to invest $ 150 million and create 150 new working place. The hotel should be a minimum of three stars.

At the same time, the new owner of the building must maintain the main business (hotel services) for 10 years. It is allowed to provide business center services in a part of the hotel complex (which does not exceed 50% of the total area). If the structure is to be demolished, the design of the new one should be the same as the old one.

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