BAKU, Azerbaijan, Dec. 12
By Matanat Nasibova - Trend:
PMD Group, an Azerbaijani company specializing in investment, asset management and development in the real estate sector, has completed installation of metal structures in a residential complex under construction in Azerbaijan's Sumgayit city, a source in the company told Trend.
According to the source, the work is done as part of a project for the construction of nine premium class buildings.
"The average price per square meter is 1,200 manat ($705.8) in the residential complex. The cost of the project is 50 million manat ($29.4 million). The project provides for the construction of 446 apartments and 511 underground parking lots. Currently, the construction of underground parking has begun. The territory of the housing estate is 86,000 square meters," the source said.
According to the source, the project is financed by the PMD Group itself.
"The project involves a Scandinavian company that installs ventilation and air conditioning systems, as well as a Turkish company that installs doors and windows. The construction of the residential complex is scheduled to finish by July 2020," the source said.
The company has been operating in Azerbaijan since 2013. Its strategic goal is to make a significant contribution to the development of this sphere in Azerbaijan.
PMD Group's partners are Kapital Bank, Absheron Hotel, ADA University.
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