Real Estate and Construction

Kosta Legal advises investors, developers, lenders, and contractors on complex real estate and construction projects in Uzbekistan.

Our Real Estate and Construction practice advises on acquisitions, disposals, development projects, financings, sale-and-leaseback transactions, commercial leasing and property management arrangements. We assist clients with transaction structuring, legal due diligence, land and title matters, cadastral registration, property transfers and the creation and registration of real estate rights and encumbrances.

We support developers, investors and contractors throughout the development lifecycle, from land allocation and project structuring to design, construction, commissioning and operation. Our experience includes advising on planning and zoning requirements, construction permits, regulatory approvals, utility connections and the legal framework applicable to major development projects.

Our lawyers draft and negotiate construction and engineering documentation, including EPC, EPCM, design, consultancy, supply and general contracting arrangements, as well as contracts based on FIDIC forms. We also advise on risk allocation, performance security, variations, delay, defects, liability, termination and contract administration.

Capabilities

·         Real estate acquisitions and disposals

·         Real estate development and investment

·         Legal due diligence and title review

·         Land allocation, acquisition and use rights

·         Cadastral registration and property transfers

·         Commercial leasing and property management

·         Planning, zoning and development approvals

·         Construction permits and commissioning

·         EPC, EPCM and general contracting arrangements

·         Contract administration, variations and claims

·         Construction-related regulatory matters

·         Regulatory reform

Selected Experience

The Ministry of Investment, Industry and Trade of the Republic of Uzbekistan and the European Bank for Reconstruction and Development (EBRD) on drafting regulations governing the reservation of land for public needs.

E20 Investment (UAE) on the development of a 470-hectare agro-industrial cluster in the Andijan region, including land rights, project structuring, EPC arrangements, construction approvals and commissioning matters.

The Ministry of Investment, Industry and Trade of the Republic of Uzbekistan and the International Finance Corporation (IFC) on reforming the legal and institutional framework governing special economic zones in Uzbekistan.

FHL Group (Greece) on a premium marble supply and installation contract with a state-owned Uzbek EPC contractor for the Centre of Islamic Civilization, a flagship national project implemented pursuant to a Presidential Resolution.

INPARK (Hungary), the state-owned National Industrial Park Management and Development Company, on the establishment, with Uzbek Government support, of a 50-hectare industrial park for the development and operation of facilities by Hungarian investors.

International Finance Corporation (IFC) and the Government of Uzbekistan on structuring and tendering Uzbekistan’s first education PPP for the development of up to 15 energy-efficient schools in the Samarkand and Andijan regions, including cadastral and title due diligence of greenfield and brownfield sites and advice on securing the required land rights.

Masdar (UAE) on the land aspects of multiple renewable energy projects across Uzbekistan with an aggregate capacity exceeding 3 GW, including land allocation and use rights, and cadastral matters.

EDF (France), Nebras Power (Qatar), Kyuden International Corporation (Japan) and Sojitz Corporation (Japan) on the land and real estate aspects of the 1,580 MW Syrdarya II combined-cycle gas turbine power plant project, including land title verification, project site due diligence, land use rights, environmental requirements and compensation matters.

Consortium of developers on a USD 500 million mixed-use urban development project involving the redevelopment of the Chirchiq riverfront, land reclamation and the development of residential, social and commercial infrastructure across a 420-hectare site in Tashkent.

Major local developers on the structuring of a joint development and financing arrangement for a mixed-use residential, office and retail complex on a 13-hectare site in Tashkent.