Uzbekistan is moving forward with an ambitious joint venture with South Korea to build what will become a sprawling medical complex in the Tashkent region. The project, now formally introduced for public discussion by regional authorities, signals a significant shift in the country’s approach to attracting foreign direct investment in large-scale urban development.
The Tashkent Medical Smart City will occupy 400 hectares in the Yuqori Chirchik district and will be developed by TMSC, a company established in partnership with South Korea’s Haenan Architecture. With investments valued at $5 billion, if realized as planned, the undertaking will create one of Central Asia’s most comprehensive mixed-use development zones dedicated to medical innovation and high-end urban living.
What’s being built
The complex represents far more than a hospital or clinic. At its core sits a major international medical facility designed to position Tashkent as a destination for medical tourism, complemented by an emergency medical care center. A branch of a leading South Korean medical university will establish operations here, supporting research and advanced training. The site will also host an international school and specialized kindergarten with a medical education focus, recognizing that modern urban centers need diverse community services.
Beyond healthcare infrastructure, the developers plan a distinctly Korean-style residential quarter featuring cultural and commercial streets, along with dining and entertainment venues. Standard urban amenities — business centers, shopping facilities, multi-story residential buildings, and hotels — will round out the offerings. The sheer scale and diversity of functions suggest Uzbekistan is trying to create not just a specialized hub but a self-contained urban district.
Investment and employment prospects
The deal structure places responsibility for internal engineering and utilities squarely with the investor. The company will fund electricity, water supply, sewage systems, bridges, and artificial water features. The government will cover external infrastructure connecting the complex to surrounding areas. Once complete, all utilities and transport infrastructure revert to Tashkent regional authorities.
Employment projections exceed 7,000 jobs once the complex becomes operational — a substantial economic multiplier for the region. Full completion is targeted by 2034, providing a 9-year execution window that allows for flexible phasing of different zones and facilities.
Accelerated delivery model
TMSC is employing a fast-track delivery methodology, a compressed approach where design, procurement, and construction proceed in parallel rather than sequentially. Each completed building is handed over fully equipped and ready for use. This method can accelerate the overall timeline, though it requires disciplined project management and clear coordination between all parties.
Environmental commitments
The project incorporates specific environmental provisions reflecting contemporary standards. Before construction begins, a comprehensive inventory of existing trees and vegetation will be conducted. For every mature tree that cannot be relocated, the developer must plant 30 new trees at least three years old as compensation. For trees that are successfully relocated, 10 new saplings must be planted and maintained for three years. Additionally, the project conditions require that landowners affected by territory acquisition receive compensation from the investor, with a contractual guarantee that land reverts to regional authorities if investment obligations are not fulfilled.
Implications for international business
This initiative exemplifies how Central Asian nations are positioning themselves as destinations for high-value foreign investment in mixed-use urban development. For international companies in construction, design, architecture, and manufacturing of building materials or furnishings, the project underscores robust opportunities in regional infrastructure modernization. The visible presence of South Korean architectural and construction expertise signals that complex, large-scale projects can find both favorable regulatory treatment and capable local partnerships in Uzbekistan.
For businesses in hospitality, retail, commercial real estate, and supply chains serving medical or educational sectors, the emergence of a 400-hectare mixed-use development creates downstream opportunities for equipment sourcing, interior furnishings, fit-out services, and ongoing operational contracts. The fast-track delivery model and formalized investment protections — including compensation mechanisms and clear governance structures — indicate a maturing legal and regulatory framework capable of supporting substantial foreign-led projects. The undertaking signals that Central Asia, and Uzbekistan in particular, is increasingly competitive for attracting multinational developers and international supply chain investment.
