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Azerbaijan’s state housing agency talks implementation of social projects in Baku

Construction Materials 4 February 2020 18:29 (UTC +04:00)
Azerbaijan’s state housing agency talks implementation of social projects in Baku

BAKU, Azerbaijan, Feb. 4

By Matanat Nasibova – Trend:

Azerbaijan’s State Housing Development Agency (MIDA) continues implementation of housing construction projects of social significance, spokesperson for MIDA Maryam Nabiyeva told Trend.

Nabiyeva noted that the construction project of the first Yasamal residential complex located on the territory of 11.6 hectares was completed and commissioned last year.

“The residential complex consists of 1,843 apartments including 1, 2, 3-room apartments, with an area of ​​31-70 square meters,” the spokesperson added. “The process of moving into apartments continues in the residential complex, and 50 percent of the apartments are already occupied. The cost of one square meter of housing in this complex is 950 manat [$558.8]. According to our estimates, by the end of the first half of this year, the residential complex is planned to be fully populated.”

Nabiyeva noted that MIDA implements all projects on the basis of the Strategic Roadmap for the Development of Affordable Housing Provision in Azerbaijan.

“According to this document, it is necessary to minimize public funding and attract private construction and investment companies to cooperation,” said the spokesperson. “Of course, we, as a regulatory body, attract such companies to implement social projects in Azerbaijan, through orders to our contractors who are directly involved in the construction of residential facilities.”

“To date, the volume of private investment in public-private partnership projects has amounted to $46.8 million,” Nabiyeva added. “As part of the projects, construction of apartment buildings, communication infrastructure and a shopping center was carried out.”

The spokesperson noted that MIDA has begun the implementation of the next project for the construction of residential complexes in Baku.

“In accordance with the roadmap, the Agency determines suitable land plots for its projects, increases the number of beneficiaries of the housing fund at an affordable price, cooperates with the private sector, ensures the efficiency of the mortgage market, thereby creating all conditions for the development of affordable housing,” Nabiyeva said.

The main goals set by the roadmap include ensuring sustainable financing of affordable housing, creating a transparent electronic system that will allow real-time registration of citizens, the effective sale of apartments and the introduction of public-private partnership in housing projects at an affordable price.

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