Azerbaijan’s PMD Group discloses details of construction of new shopping center in Baku

BAKU, Azerbaijan, Nov. 8

By Matanat Nasibova – Trend:

The PMD Group, specializing in asset management, investments in real estate and property management, has completed 12-15 percent of the project for the construction of a new shopping center on the territory of the Baku Ring Road, a source in the company told Trend.

“The issue is a big and costly project, the implementation of which will take 12-14 months,” the source added.

"The shopping center is planned to be commissioned in late 2020 or in early 2021,” the source said. “The construction work is being carried out on a one-hectare area. Besides the shops for sale of goods, merry-go-rounds, cafés and restaurants are planned to be built in accordance with the project.”

“The company also plans to develop similar projects in the future,” the source said. “Similar centers are expected to be built in a number of Baku’s residential areas. Moreover, the company plans to create such shopping centers in the country’s districts.”

The company has been operating in Azerbaijan since 2013. Its strategic goal is to make a great contribution to the development of this sphere in Azerbaijan.

PMD Group’s partners are Kapital Bank, Absheron Hotel, ADA.

The company has implemented such projects as the Vurgun Residence residential complex, located near the Park of Officers in Baku, which consists of 18 floors and has been constructed in accordance with the modern architectural standards.

Among other projects of the company is the restoration of Molokan Palace and the construction of the BEGOC Business Center, which is a multi-purpose building that meets the modern quality standards and other projects.

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Follow the author on Twitter: @MatanatNasibova

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