Murad Buildings and BI Group have created a joint venture to implement investment projects.
Murad Buildings, a leading domestic developer, and BI Group, a leading Kazakhstani development company, have announced the creation of NRG, a joint venture headquartered in Tashkent.
The newly formed company's first investment project will be the construction of the NRG Oybek residential complex in the Mirabad district of Tashkent. The partners are investing $33 million in the project and plan to deliver nearly 60,000 square meters of housing in August 2021.
The partners plan to focus on implementing advanced management methods, materials, and construction techniques, including digital solutions for project development, planning, and data processing. Particular attention is being paid to residential management, including smart home and smart renovation technologies based on the latest global innovations. For example, residents will be able to control barriers and entrance doors, security systems, and optimize utility bills remotely via mobile apps. "NRG is a union of like-minded partners. The identical slogans of Murad Buildings and BI Group demonstrate our shared vision of our mission: to build comfortable spaces and provide thoughtful service. Our Kazakh partner is entering the Uzbek market with an innovative approach to development, extensive experience in digitalizing processes, and investments, the importance of which was emphasized by the President of Uzbekistan in his address to the Oliy Majlis this year. We expect that the joint work of our companies will help increase housing delivery volumes, improve quality, and reduce prices for the end consumer," noted Murad Buildings founder and CEO Murad Nazarov.
"I am confident that through this partnership, BI Group and Murad Buildings will implement truly unique, breakthrough projects. Our competencies, expertise, and accumulated experience create an excellent foundation for the success of our joint venture. BI Group will bring high corporate standards and cutting-edge technological solutions, while Murad Buildings will bring an understanding of the Uzbek market, established business relationships, a wide range of reliable suppliers, and streamlined business processes. "We won't just build houses—our approach involves creating a well-designed ecosystem for residents that will elevate their quality of life to a new level," emphasized Aydin Rakhimbaev, Chairman of the Board of Directors of BI Group.
