The analyst expects that the construction industry in Uzbekistan to expand by 8.2% in real terms in 2025. This will be supported by investments in transport and renewable energy projects, coupled with increase in foreign direct investment (FDI) and government spending to promote the country's economic growth. According to the Central Bank of Uzbekistan, inward FDI to Uzbekistan grew by 20% year-on-year (YoY) in the first quarter of 2025, reaching over UZS11.7 trillion ($8.7 billion), owing to the favorable foreign policy and business environment in the country. Furthermore, the government aims to attract UZS553.5 trillion ($42 billion) FDI in 2025. The government also plans to implement 81 large-scale projects and more than 8,000 medium and small projects during 2025. Furthermore, the construction industry’s growth in 2025 will be supported by Uzbekistan’s 2025 Fiscal Budget approved in December 2024. The consolidated budget includes revenue of UZS431 trillion ($32.3 billion) and expenditures of UZS480.5 trillion ($32.3 billion).
Over the remainder of the forecast period, Uzbekistan’s construction industry is expected to register an average annual growth rate of 5.4% from 2026 to 2029, supported by public and private sector investments in transport, industrial, and renewable energy projects. In August 2025, the government approved a comprehensive socio-economic development plan for the Samarkand region through 2030. Indeed, the region's gross regional product is targeted to rise to UZS165 trillion ($12.5 billion), with industrial and service exports reaching UZS46.1 trillion ($3.5 billion) annually by 2030. To achieve these goals, investment projects totaling UZS89.6 trillion ($6.8 billion) are planned by that year. A new company, Samarkand Invest, will be formed under the regional administration to serve as a facilitator between the government and private sector for executing projects and developing infrastructure. Key initiatives under this plan include modernizing markets and shopping complexes, reconstructing deteriorated buildings, auctioning vacant land plots for business development, and financing infrastructure and renovation programs to support construction growth.
Over the remainder of the forecast period, Uzbekistan’s construction industry is expected to register an average annual growth rate of 5.4% from 2026 to 2029, supported by public and private sector investments in transport, industrial, and renewable energy projects. In August 2025, the government approved a comprehensive socio-economic development plan for the Samarkand region through 2030. Indeed, the region's gross regional product is targeted to rise to UZS165 trillion ($12.5 billion), with industrial and service exports reaching UZS46.1 trillion ($3.5 billion) annually by 2030. To achieve these goals, investment projects totaling UZS89.6 trillion ($6.8 billion) are planned by that year. A new company, Samarkand Invest, will be formed under the regional administration to serve as a facilitator between the government and private sector for executing projects and developing infrastructure. Key initiatives under this plan include modernizing markets and shopping complexes, reconstructing deteriorated buildings, auctioning vacant land plots for business development, and financing infrastructure and renovation programs to support construction growth.
The Construction in Uzbekistan - Key Trends and Opportunities to 2029 (H2 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 (2025-2029) 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 the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance3 Latest news and developments4 Project analytics5 Construction Market Data6 Risk Profile
7 Appendix
List of Tables
List of Figures
