Uzbekistan: Sea Breeze Uzbekistan joint venture registered to implement a resort project on Charvak

The joint venture Sea Breeze Uzbekistan is officially registered in Uzbekistan, which will implement a large-scale investment project to build a resort on the shore of the Charvak reservoir. The company received legal status on August 4, 2025-three days after the government issued a decree on measures to create a new resort complex in Bostanlyk district of Tashkent region.

The founders of Sea Breeze Uzbekistan were Agalarov Development and entrepreneur Ulugbek Makhmudov, each with a 50 percent stake. According to information from the Unified State Register, Sardor Khamidov has been appointed General Director of the company, whose main activity is the construction of non-residential buildings. Ulugbek Makhmudov is also involved in other construction and investment structures, including Sunshine Investment, New Time-Projects and Breeze Development.

The project is being implemented on a 577-hectare plot leased by Sea Breeze Uzbekistan for a period of 25 years with a priority right of extension. According to an independent assessment, the market value of the lease of the territory is about 1.7 trillion soums ($133.2 million), but the government has set a reduced fee of 17 billion soums ($1.3 million), which will be paid over five years. This decision is based on the application of a preferential coefficient for strategic investment projects.

Sea Breeze Uzbekistan obtains the exclusive right to sublet land plots under the approved master plan. In addition, the investor is allowed to conduct construction until the end of 2029 in parallel with the development of design and estimate documentation, independently approve the requirements for objects, and also form the architectural concept of the project.

The project provides for environmental obligations: the discharge of waste into the Charvak reservoir and the Chirchik River is prohibited. All waste water should be directed to the treatment facilities of the city of Chirchik. Violation of environmental conditions will lead to the termination of the lease agreement. Despite this, the decree does not mention environmental expertise or environmental impact assessment, although the updated legislation regulating these procedures comes into force on August 25.

By the end of 2025, the Ministry of Investment, Industry and Trade has been instructed to attract international funding within the framework of public-private partnership for the construction of infrastructure: roads, water supply, sewerage, power supply, communications, as well as a cable-stayed bridge across the Charvak River. The State is responsible for the construction of these facilities.

Additionally, the investor is granted the right to replant valuable trees within the project or other sites, and the felling of less valuable species is compensated by planting ten new seedlings for each tree at least five years old.

The development of the master plan is carried out with the participation of an architectural firm from the UK. According to the Ministry of Ecology, capital works are not being carried out yet — a demonstration section of the beach is being formed. At the same time, the project is planned to be submitted for public discussion.

The launch of Sea Breeze Uzbekistan demonstrates the desire of the Uzbek authorities to develop domestic tourism at a high international level with the involvement of foreign investors, while at the same time identifying challenges related to compliance with environmental and urban planning standards.