Uzbekistan Auctions Off Landmark Soviet-era Hotel
May 29, 2020
Uzbekistan has sold a controlling stake in its most famous hotel to a firm based in Singapore as Tashkent tries to breathe new life into the Soviet-era Brutalist landmark.
The sale of Hotel Uzbekistan, which once featured regularly on postcards of the capital, comes as the central Asian country seeks to draw foreign investment and tourists.
Singapore-based Bashan Investment Group has acquired 80 percent of the huge hotel for $23.2 million in a competitive auction, Uzbekistan’s state assets management agency said this week.