Coldwell Banker Commercial Expands Global...

MADISON, N.J. (April 1, 2026) - Coldwell Banker Real Estate LLC today announced the opening of its newest master franchise, Coldwell Banker Commercial Uzbekistan, located in Tashkent.

This expansion marks a significant milestone in the brand's international growth, introducing the brand's 120-year legacy of real estate excellence to Uzbekistan's dynamic market.

The expansion into Uzbekistan comes at an opportune time, as the country is experiencing robust economic momentum, rapid private sector expansion, and a surge in demand for international-quality office spaces and advisory services driven by macroeconomic expansion and significant inflow of international companies. The market is entering a new phase where professionalism, transparency, and global standards are essential, creating a unique opportunity for Coldwell Banker Commercial Uzbekistan to deliver top-tier brokerage, property management, and consultancy services.

Led by CEO Andrey Melkumyan, Coldwell Banker Commercial Uzbekistan operates from its flagship office in Tashkent with a team of six professionals supporting brokerage and advisory services. The company aims to introduce international standards of commercial real estate services to Uzbekistan by combining deep local market knowledge with the global platform, resources, and reputation of the Coldwell Banker Commercial® brand. As the country's commercial real estate market continues to mature, the firm seeks to contribute to greater transparency, professional advisory practices, and higher-quality institutional services across the sector.

Market Highlights:

• Uzbekistan's GDP growth remains strong at 6.8-7% annually, fueled by IT outsourcing, fintech, banking, and the relocation of companies from Russia, Kazakhstan, Turkey, and the Middle East.
• Demand for Class A and B+ office space is high, with occupancy levels in top business centers exceeding 70%.
• Uzbekistan is entering a phase where demand for institutional, international-quality brokerage and property management services significantly exceeds supply, creating strong opportunities for professional operators such as Coldwell Banker Commercial Uzbekistan.
• There is a shortage of institutional-quality office buildings built and managed to international standards, with only 2-3 large commercial projects delivered annually.
• The market remains fragmented, with most landlords operating without professional property management or standardized processes.

Including this expansion into Uzbekistan, Coldwell Banker Real Estate and Coldwell Banker Commercial expanded to 93 new locations in 14 countries and territories in 2025, six of which represented the brands' first entry into the market.

QUOTES:
"IOI Capital Dubai had been seeking a strong international partner in the real estate sector to expand its real estate investment platform and build a global portfolio of projects. The partnership with Coldwell Banker and Coldwell Banker Commercial, a network with more than 93,000 real estate professionals in over 50 countries, provides IOI Capital with access to international markets, professional expertise, and new investment opportunities. This partnership also reflects the growing role of Uzbekistan as a stable, secure, and rapidly developing investment region. By combining the global infrastructure of Coldwell Banker Commercial with the investment vision of IOI Capital, we aim to elevate the development of real estate projects to a higher level."
- Andrey Melkumyan, Managing Partner, Coldwell Banker Commercial Uzbekistan

"We are excited to welcome Coldwell Banker Commercial Uzbekistan to our global network. Uzbekistan's dynamic market offers tremendous opportunities for growth and innovation, and we are confident that our brand's expertise and values will help shape the future of commercial real estate in Central Asia."
- Dan Spiegel, Senior Vice President and Managing Director of Coldwell Banker Commercial

About Coldwell Banker Commercial Uzbekistan
Coldwell Banker Commercial Uzbekistan is located at 19 Shota Rustavelli Str., Tashkent, Uzbekistan. As one of the top commercial real estate firms in Uzbekistan, it aims to apply the Coldwell Banker Real Estate's 120 years of robust global real estate knowledge in 48 countries and territories to the Uzbekistan market by providing top-of-the-line real estate brokerage, property management and consultancy services. The company has recently assumed full property management of Modera Towers, a next-generation Class A business center with unique amenities on site like: conference rooms and big event zone, coworking with club offices, biggest premium class fitness center with two swimming pools in the city and 4-star branded apartments and premium corporate environment. Spanning more than 16,000 square meters, Modera Towers serves as the firm's flagship operational base and exemplifies the level of quality and service Coldwell Banker Commercial Uzbekistan brings to the local market. For more information, please visit www.cbcestate.uz

About Coldwell Banker Commercial
Coldwell Banker Commercial is a trusted leader in commercial real estate, delivering expert solutions across office, retail, industrial, and multifamily properties globally. Serving owners and occupiers with specialized leasing, acquisition, and disposition services, Coldwell Banker Commercial brings over a century of proven expertise to every transaction. Founded in 1906 in San Francisco, the company has grown to include a network of 182 independently owned and operated affiliates as well as owned brokerage and 3,330 professionals. Ranked No. 1 in local market presence and expertise according to CRE professionals, the company spans 50 countries, offering clients personalized, results-driven services tailored to meet diverse real estate needs. Trailblazers in the industry, Coldwell Banker Commercial boasts a long-standing reputation for dedication, integrity, and transparency while continuing to rank among the Top 15 commercial real estate brands in the U.S. based on sales volume. Coldwell Banker Commercial is a part of Compass International Holdings (NYSE: COMP), a global real estate services company with a presence in every major U.S. city and in approximately 120 countries and territories. For more information, visit cbcworldwide.com.

Media Inquiries:

Andrea Gillespie | 440-821-0801 | [email protected]

Coldwell Banker Real Estate LLC