BAKU, Azerbaijan, March 11
By Matanat Nasibova – Trend:
Azerbaijan’s construction company Agsaray Residence completed 50 percent of the work in a multi-story building under construction, the company's manager Sevil Shahbazova told Trend.
Shahbazova added that the company has now begun construction of the fifth floor in an eight-story building.
Construction work is ongoing as part of the eight-story residential building project in the Baku White City, which is scheduled to be completed in 2021.
“Apartments will be sold under beacon; their area will be from 91 to 200 square meters. The minimum cost of one square meter in this building is 1,600 manat [$941.2], and the maximum 2,200 manat [$1,294]. The initial payment for the apartment is 30 percent of its total cost, the remaining part of the money is paid over the next 24 months,” Shahbazova said.
Along with this building, two other buildings are also being constructed on the territory of the White City, which are expected to be completed in 2022.
Currently, the construction of these buildings is at an initial stage. The cost of apartments in two new buildings varies from 1,400 manat ($823.5) to 2,000 manat ($1,176) per one square meter.
The manager added that the company is planning to take part in new projects on the territory of White City in the medium-term as the construction territory increases.
"The construction territory in the White City is currently 250 hectares and it is planned to expand it to 650 hectares," Shahbazova said.
In 2019, the company constructed its first major premium residential complex on the territory of the White City.
The company has been operating on the Azerbaijani market for 15 years.
(1 USD = 1.7 AZN on March 11)
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