Housing fund almost doubles in Azerbaijan in Sept.

Baku, Azerbaijan, Oct. 20

By Azad Hasanli - Trend:

According to the Azerbaijani State Statistics Committee, the construction work totaling 5.984 billion manat was conducted in Azerbaijan in January-September 2014. The volume of construction work increased by 3.8 percent compared to the same period of last year.

Some 63.9 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 16.9 percent - overhaul, 5.7 percent - current repair and 13.5 percent - other construction work.

Commissioned:

Jan.-Sept. 2014

Compared to Jan.-Sept. 2013

residential buildings, total area, thousand sq. m

1459.3

96.2

Hospitals

230

43.4

Secondary schools, educational facilities

24 812

97.8

Pre-school educational institutions, facilities

1 092

72.4

Funds directed to fixed capital, in mln manat

11 868.5

100.2

Including:
- for the construction of production facilities

8 093.9

121.1

- for the construction of facilities in service sector

3774.6

73.1

- for construction and installation work

8 678.6

108.5

In September, the volume of housing commissioning increased by 1.97 times compared to August 2014, but by 54.9 percent compared to September 2013.

According to the Azerbaijani State Statistics Committee, around 313,800 square meters of housing were commissioned in September compared to 159,060 square meters in August. Around 1.459 million square meters of housing were commissioned in 2014 or by 3.8 percent less than in 2013.

As of the first eight months of 2014, around 98,100 people were involved in the construction sector. A nominal wage in the construction sector amounted to 627.2 manat, which is 1.3 percent more than in the same period of last year. The average monthly salary in the public sector amounted to 508.8 manat (with a 2.6 percent growth during a year), in the private sector - 679.5 manat (with a 0.4 percent growth).

The amount of wages in building construction decreased by 1.7 percent - an average of 556 manat, in the field of civil construction work - by 16.5 percent - up to 499.5 manat, while specialized construction - increased by 22.4 percent - up to 923.2 manat in January-August 2014.

The official exchange rate is 0.7843 AZN/USD on Oct. 20.

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