BAKU, Azerbaijan, Jan. 14
By Matanat Nasibova - Trend:
PMD Group, an Azerbaijani company specializing in investment, asset management and development in the real estate sector, continues work as part of a big expensive project on housing estate construction in Azerbaijan’s Sumgait city, a source in the company told Trend.
“More than 25 percent of the work has been performed at an area of 86,000 square meters,” the source said. “The project envisages construction of nine buildings of the Premium class; the average cost per square meter in the residential complex is 1,100 manat ($647). The cost of the project will be about 50 million manat ($29.4 million). The project provides for the construction of 446 apartments and 511 underground parking lots.”
The project is being implemented and financed by the PMD Group itself.
The construction of the residential complex is scheduled to be finished this summer.
“This object will meet high European quality standards,” the source added. “The project involves a Scandinavian company that installs ventilation and air conditioning systems, as well as a Turkish company that installs doors and windows.”
The company has been operating in Azerbaijan since 2013. Its strategic goal is to make a significant contribution to the development of this sphere in Azerbaijan.
PMD Group's partners are Kapital Bank, Absheron Hotel, ADA University.
The company has implemented such projects as the Vurgun Residence residential complex, located near the Park of Officers in Baku, which consists of 18 floors and has been constructed in accordance with the modern architectural standards.
Among other projects of the company is the restoration of Molokan Palace and the construction of the BEGOC Business Center, which is a multi-purpose building that meets the modern quality standards and other projects.
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