AX Property Developments (UZBEKISTAN)
AX Property Developments (Uzbekistan) was set up in August 2010. It focuses mainly in property earmarked for the Health & Recreational sectors in Uzbekistan to develop and plans to move into Uzbekistan’s eco tourism; develop health and recreational zones in mountainous areas for both the local and foreign tourism markets.
In 2010, AXHL, through AX Property Developments which it owns, invested in Eagle Rock Resort (ERR), a 90-minute trip from Tashkent. The resort has since opened after major upgrading works was carried out, and had its first bookings back in 2011. Every summer, during the peak season, the resort is fully booked. Plans are also under way for further development works at ERR to make it operate at full scale throughout the year, covering all 4 seasons.
It also provides support to AX Exotic Travels in Singapore for any logistical arrangements necessary in travel-related matters covering Uzbekistan and Central Asia.
AX Property Developments is currently involved in the following land and recreation development projects:
- 12 cottages for resort development with massive potential revenue from four seasons of activities eg; skiing, hiking, water activities, etc… and the sales revenue from room rates, F&B, merchandise etc.
- 32 hectares of land available for further development. Given the natural appreciation of land from undeveloped to fully developed is high in Uzbekistan, AX is poised to obtain huge returns in such asset acquisition.
Uzbekistan is rich in natural resources in cotton, gold, coal, oil and gas. AX Property Developments has limitless opportunities for asset acquisition and development potential.