Uzbekistan Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)

Uzbekistan Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)

Summary

GlobalData expects the construction industry in Uzbekistan to expand by 5.6% in real terms in 2025, supported by public and private investments in transportation and renewable energy projects, coupled with increased foreign direct investment (FD) and government spending to bolster construction output. According to the Central Bank of Uzbekistan, inward FDI to Uzbekistan grew by 53.6% in 2024, reaching UZS156.8 trillion ($11.9 billion). Furthermore, Uzbekistan is aiming to increase FDI further to UZS566.7 trillion ($43 billion) in 2025 - equivalent to a 261.3% YoY increase. This involves a target of funding 300 new large-scale projects for the production of 662 types of import substitutes. Although, Uzbekistan's national debt reached UZS535.9 trillion ($40.2 billion) by close of Q4, equivalent to 35% of the country's GDP. This marks an increase from 2023, when national debt totalled UZS440.3 trillion ($33 billion) - equivalent to 32.5% of GDP. Out of the total national debt in 2024, 83.8% was external debt and the remaining int.

Furthermore, Uzbekistan’s construction industry is expected to register an average annual growth rate of 5.2% from 2026 to 2029, supported by investments in transport, residential, and renewable energy projects. In November 2024, the Hokimiyat of Tashkent signed agreements with China State Construction Engineering Corporation (CSCEC) to implement multiple infrastructure projects in Tashkent, with a total investment of UZS13.3 trillion ($1 billion). The projects include the modernization of road infrastructure in Tashkent, with an investment of UZS4 trillion ($300 million), construction of bridges valued at UZS3.4 trillion ($259 million) and construction of a large residential complex at a cost of around UZS5.9 trillion ($440 million).

GlobalData’s Construction in Uzbekistan - Country Briefing (H1 2025) 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

Scope

This report provides a comprehensive analysis of the construction industry in Uzbekistan. It provides -

• Historical (2020-2024) and forecast (2025-2026) 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

Reasons to Buy

• Identify and evaluate market opportunities using our 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 business strategies using GlobalData's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors