Expensive residential complex being constructed in Azerbaijan's Sumgayit
Baku, Azerbaijan, Aug. 21
By Matanat Nasibova - Trend:
PMD Group, a company specializing in asset management, real estate investment and facility management, continues to implement an expensive project in Azerbaijan's Sumgayit city, Head of the business expansion department of PMD Group Kamil Aliyev told Trend.
Aliyev noted that the company is involved in the construction of a large housing estate in Sumgayit with an area of 86,000 square meters.
"The residential complex consists of nine buildings of the premium class. Currently, in the residential complex, all metalwork installation has been completed, landscape and facade work is being carried out. The project envisages the construction of 446 apartments and 511 underground parking spaces for cars," he said.
"The cost of the project will be about 50 million manats. The project is implemented and funded by the PMD Group itself. The deadline for the construction of the residential complex is scheduled for the summer of 2020."
He noted that the average price per square meter in the residential complex is 1,100 manats.
The new residential complex will meet high European quality standards. The project involves a Scandinavian company that installs ventilation and air conditioning systems, as well as a Turkish company that installs doors and windows.
PMD Group has been operating in Azerbaijan since 2013.
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