BAKU, Azerbaijan, January 8. To meet the housing needs of Baku city, 125 hectares of land suitable for housing construction have been identified at cooperation meetings between the State Committee of Urban Planning and Architecture of Azerbaijan and the State Housing Construction Agency (MIDA), Trend reports, referring to the 'Baku city General Plan 2040'.
To meet the housing needs of young families with low and medium incomes, it is proposed to create a modern residential environment in certain areas. MIDA is implementing two housing projects on an area of 46 hectares in Hovsan settlement and Yasamal district of Baku to create urban neighborhoods with sustainable and comprehensive opportunities to build affordable housing.
Moreover, in parallel with the Urban Lakes Rehabilitation Program, two new sites are proposed and will be implemented in Zykh Lake (about 29 hectares of land suitable for the residential and mixed-use areas) and Boyukshor Lake (about 50 hectares of land suitable for the residential area).
A demand of approximately 142,800 apartments is projected by 2040.
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