BAKU, Azerbaijan, July 10
By Matanat Nasibova – Trend:
A multi-storey residential complex on the territory of the White City in Baku is being built in accordance with the schedule, a source in the Azerbaijani Agsaray Residence company told Trend.
The company has completed 90 percent of the work.
The construction of this building is planned to be completed by mid-autumn, in November 2020, and the sale of apartments will begin in early 2021, the source said.
“The apartments will be sold as part of turnkey construction; their area will vary from 91 to 200 square meters,” the source said. “The minimum cost of one square meter in this building is 1,600 manat ($941.2) and the maximum - 2,300 manat ($1,350). The initial payment for the apartment is 30 percent of its total cost, the remaining part of the money is to be paid over the next 24 months.”
Two other buildings are also being constructed on the territory of Baku White City. Nearly 15-20 percent of construction work has been completed in each of these buildings.
The cost of apartments in two new buildings varies from 1,400 manat ($823.5) to 2,000 manat ($1,176) per one square meter.
The company is planning to take part in new projects next year on the territory of Baku White City which is planned to be expanded up to 650 hectares.
The construction territory in Baku White City is currently 250 hectares.
The company commissioned its first major premium residential complex on the territory of Baku White City in 2019.
The company has been operating on the Azerbaijani market for nearly 16 years.
(1 USD = 1.7 AZN on July 10)