BAKU, Azerbaijan, Feb. 29
By Matanat Nasibova - Trend:
Azerbaijan's Agsaray Residence construction company has finished 40 percent of the work on construction of the high-rise buildings of premium class in Baku's White City, company's Manager Sevil Shakhbazova told Trend.
"Within the project, an eight-story building is under construction, which is to be fully completed in 2021. Currently, the construction of the fourth story is underway. The apartments' sizes vary between 91 and 200 square meters, and the minimal cost of one square meter is 1,600 manat [$941], whereas maximal cost is 2,200 manat [$1,294]. An initial fee for the apartment is 30 percent of its total price, and the remaining sum is paid over the following 24 months," Shakhbazova said.
She added that the company is planning to take part in new projects on the territory of White City in the medium-term as the construction territory increases.
"The construction territory in the White City is currently 250 hectares and it is planned to expand it to 650 hectares," she said.
Last year, the company constructed its first major premium residential complex on the territory of the White City.
The company has been operating on the Azerbaijani market for 15 years.