On October 22-23, Almaty hosted the annual international forum CREW Central Asia 2026.
The forum has established itself as a professional platform uniting representatives of the commercial real estate market of Kazakhstan and other Central Asian countries.
This year's forum theme – Market. Influence. Future – reflects the key issues on the industry agenda: market transformation, new investment opportunities, the development of commercial real estate, and the impact of development on the urban environment.
The forum program included analytical reviews of regional markets, discussions on the development of retail, shopping centers, and logistics infrastructure, redevelopment, technological solutions in development, and urban development prospects.
From the CMWP Uzbekistan team, Liliya Yeryomenko, Director of the Retail and Public Spaces Department, presented an expert perspective on the development of the Tashkent retail real estate market.
Liliya delivered a presentation titled Tashkent Retail Real Estate: Retailer Expectations and Development Realities.
Liliya's presentation focused on several topics:
the potential of Tashkent's quality retail real estate market, the existing gap between the requirements of international and local retailers and the characteristics of current retail properties, as well as new development opportunities.
According to CMWP Uzbekistan's assessment, Tashkent's current provision of quality retail space is 163 sq. m per 1,000 residents. When compared to developed markets in the region, the potential provision level could exceed 450 sq. m per 1,000 residents. The estimated potential increase in quality retail space is valued at over 901 thousand sq. m.
A separate part of the expert's presentation was dedicated to ETÉRA MALL, a MANAR Development project. The example chosen by Liliya addressed the immediate market outlook. The project demonstrates an approach to creating a modern shopping center with a unified concept, a well-thought-out tenant mix, and a professional management model.
The project includes 20,500 sq. m of leasable area, 90 stores, and a conceptual food hall, The China Town, spanning 5,100 sq. m. The opening of ETÉRA MALL is scheduled for Q4 2027.
Participation in CREW Central Asia 2026 provided an opportunity to present current Uzbekistan market analytics to the professional community, share practical experience, and integrate the prospects of the Tashkent market into a broader regional context.
For CMWP Uzbekistan, participation in international industry platforms is also an opportunity to maintain a professional dialogue among market participants in Central Asia, exchange expertise, and contribute to the development of quality commercial real estate in the region.
