Timur Musin, the founder of Caravan Group and owner of famous restaurants and recreational centers in Tashkent, has put a portion of his business up for sale. Related advertisements appearing on the OLX platform have drawn public attention.
It has been revealed that on April 13, the major "Plov Museum" restaurant complex in the capital was listed for sale. This five-story complex covers an area of 5,800 square meters and is situated on a 0.20-hectare (20 sotix) plot along the Salar Canal. The total value of the facility is estimated at 150 billion soum. Additionally, an option to purchase the property in sections—starting from 1,100 square meters—is being offered.
Furthermore, the renowned Caravan restaurant is also on the market. It occupies a 0.07-hectare plot with a total area of 1,800 square meters. The restaurant has the capacity to host up to 250 guests in winter and 490 in summer. Its price has been set at 45 billion soum.
The Cinara’s ethnographic complex located in the Bostanlyk district has also been included in the sales list. It spans 0.80 hectares, with buildings totaling 1,400 square meters. This property is valued at 99 billion soum.
According to the entrepreneur, the decision was prompted by ongoing litigation and the risk of losing investments. He noted that a major ethnographic project he intended to implement has stalled due to various administrative barriers.
Timur Musin stated that plans to build an ethnographic village, including a hotel and a water park, have been postponed indefinitely due to a complex investment climate. Despite significant labor and financial resources invested in the project, the expected support was not forthcoming.
Reports indicate that the majority of the problems are related to land issues. Specifically, during the reconstruction of a highway in the Bostanlyk district, a portion of the land belonging to the company was seized. Although a court issued a ruling on compensation, the decision was repeatedly overturned, and the case is currently under review.
The situation was further complicated by a previous instance where 4 hectares of land were seized from the entrepreneur and replaced with inconvenient territory. Subsequently, disputes regarding cadastral documentation emerged.
Under current circumstances, the company has suspended operations with several foreign partners, and substantial investments in bank accounts have been frozen. Legal proceedings continue to navigate various judicial instances.
Consequently, the prominent businessman is attempting to reduce financial pressure by selling a portion of his business assets.
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