BAKU, Azerbaijan, February 6. Azerbaijan’s State Housing Construction Agency (MIDA) is set to begin the construction of a new residential complex, Trend reports.
The agency plans to develop the complex on a land plot covering 4.98 hectares on Aligulu Gamkusar street in Azerbaijan's Nakhchivan city.
MIDA has already started working on the project in preparation for the construction of the residential complex.
According to the agency’s forecasts, the cost of the project is expected to reach approximately 619,500 manat ($364,411).
To note, MIDA had previously launched the construction of another new residential complex on a 5.83-hectare patch of land in the Hovsan settlement of the Surakhani district in the country’s capital, Baku.
Established in 2016, MIDA is a central administrative authority created to efficiently allocate money for the development of multistory residential complexes and to offer preferential housing to low- and middle-income residents and young families in the Republic of Azerbaijan. It also enforces governmental policy and regulation in urban planning, design, and architecture.
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