Tashkent police have opened a criminal case against the management of developer Imarat Development, after buyers complained they had waited about three...
Tashkent police have opened a criminal case against the management of developer Imarat Development, after buyers complained they had waited about three years for flats that, in some cases, were never even started.
Investigators say the planned high-rise blocks were actually being built in Quyichirchiq district, in Tashkent region, not in Tashkent city itself. When buyers demanded their money back, they did not get it, police say. One client, unable to recover his payment, injured himself with a knife inside the company office, according to Uzbek MDK.
The case is opened under fraud and abuse-of-office articles of Uzbekistan's criminal code, and the Prosecutor General's office has confirmed it.
Uzbekistan's housing market runs on buyers paying upfront. This case will test whether buyers still trust that model.
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