BAKU, Azerbaijan, November 5. The implementation of large-scale real estate projects in new markets requires developers to conduct thorough preliminary preparation, analyze local demand, and understand the specifics of the construction industry and local business practices, Investment Director at PASHA Real Estate Group, Levent Kirazoglu, said during the AIREX 2026 international real estate and investment exhibition held in Baku on Thursday, Trend’s correspondent reports from the event.
"The project implementation process, from the initial concept to final completion, is time-consuming, and large-scale projects introduce additional complexities. This is especially true when a company enters the market of a new country.
It’s essential to define all project characteristics and details, establish clear requirements for architects, and dedicate significant time to the initial conceptual development. If the project documentation fails to account for market needs, it can lead to additional time delays during subsequent stages," he said.
Addressing the organization of the construction process, the PASHA Real Estate representative noted that the choice of an implementation model depends on the capabilities of the local market—specifically, the availability of contractors to whom specific work packages can be delegated.
According to him, in most countries where PASHA Real Estate enters the market, the company manages the construction process itself by assembling a strong, specialized local team and breaking the work down into distinct packages.
"Adapting to a new environment takes time. When you carry out a project in your home country, you already know the market and understand how to organize the processes. In a new country, everything is different, which is why extensive preparation is required.
Typically, developers don’t enter a new market just to complete a single project. Once they have studied local specifics, built the necessary expertise, and established business connections, companies generally aim to expand their operations in that country and undertake further projects," he added.
