By Kamila Aliyeva
Singapore’s company EXIM Investments Pte Ltd will build a modern complex worth over $12 million in Samarkand on the basis of the inactive hotel Afrosiyob-Palace, Podrobno.uz reported.
The Uzbek government decided to transfer the building and hotel facilities to a foreign investor at a residual book value with an area of 1.9 hectares adjacent to it. At the same time, the Singaporean party should pay off all available arrears on wages, as well as to the budget and other creditors.
EXIM Investments Pte Ltd is to invest $ 12 million in reconstruction of the hotel for two years with its own and attracted funds, and create up to 100 new jobs for the citizens of Uzbekistan.
In addition, the Singaporeans committed themselves to completion of the reconstruction of the hotel complex with 280 rooms, bringing the service to a level corresponding to the category of at least four-star hotels, landscaping of the adjacent territory with the necessary infrastructure and parking provided timely harmonization of architectural solutions for reconstruction with the Ministry of Culture and UNESCO by November 1, 2019.
Uzbekistan, being home to Bukhara, Khiva and Samarkand – three cities considered jewels along the Old Silk Road trade routes that used to connect Europe and Asia, enjoys a large number of tourists. Thousands of tourists visit the cities every year.
The tourist infrastructure in recent years has been raised to a fairly high level. In particular, 1,176 tourist organizations, including 621 tour operators, 555 hotel farms, successfully operate in Uzbekistan. An extensive network of hotels for more than 25,000 seats meet modern international standards.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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