Demand for industrial and distribution facilities in Greater Tashkent continues to outpace supply, driving new construction activity across the region.
Demand for industrial and distribution facilities in Greater Tashkent continues to outpace supply, driving new construction activity across the region. E-commerce growth, import substitution policies, and foreign manufacturer investment are the primary demand drivers.
Vacancy rates for Class A industrial space have fallen below 3%, and average lease rates have increased 18% year-over-year. Developers are responding with new speculative construction, and TPS is actively in discussions on several major build-to-suit and spec projects.
