Warehouses and industrial bases in Tashkent: the most undervalued commercial real estate? Commercial real estate in Tashkent

Why warehouses have become in demand The market is changing. If stores and offices used to be the main driver, today logistics and storage are coming to the forefront. The reasons are obvious: growth of online commerce increase in imports and local production development of domestic distribution business need to optimize warehouse supply chains Companies can no longer operate “off the truck” — they need warehouses. What is happening in Tashkent now Tashkent is experiencing a shortage of quality warehouse facilities. This is especially true for: modern Class A and B warehouses properties with convenient logistics sites with truck access The highest demand is concentrated in the following areas: Sergeli Yangihayot Almazar Yunusabad (partly, for small warehouses) At the same time, older Soviet-type bases are being actively purchased and renovated to meet modern needs. Formats: what is being bought and leased Several key formats can be identified in the market: 1. Classic warehouses Suitable for storage of goods, logistics, and distribution. 2. Industrial bases Used for workshops, assembly, light manufacturing. 3. Universal bases Combination: warehouse + office + territory. 4. Small warehouses (urban storage) Small premises within the city limits are a trend of recent years. Why this is beneficial for an investor Warehouses provide a more “stable” income compared to other segments. Key advantages: long-term tenants low turnover minimal repair costs stable cash flow In Tashkent, warehouse yields often are: 8–12% per year, and in some cases higher. What to pay attention to when buying If you are considering bases or warehouses as an investment, the following parameters are critical: Location — proximity to highways and interchanges Access roads — ability for freight transport to enter Ceilings — preferably from 4–6 meters Utilities — electricity, water, sewerage Land — наличие кадастра и категории Mistakes in these points directly affect liquidity. Main risks Despite the attractiveness of the segment, there are nuances: outdated buildings require investment legal issues related to land limited liquidity compared to apartments dependence on logistics flows But with a грамотный choice, these risks can be minimized. Conclusion Warehouses and bases in Tashkent are not a hype-driven, but an extremely rational asset. While most investors look at apartments and offices, professional players are entering logistics and earning from stability. If we view commercial real estate as a business rather than an emotion, warehouses today are one of the strongest tools.