BAKU, Azerbaijan, April 9
By Matanat Nasibova - Trend:
Azerbaijani Agsaray Residence construction company has completed more than 60 percent of the work in a multi-story building which is under construction in Baku White City, a source in the company told Trend.
“The company will complete the construction of the fifth floor in an eight-story building in late April,” the source said. "The construction of a multi-story building is planned to be completed in early 2021.”
Apartments will be sold as part of turnkey construction; 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.
Two other buildings are also being constructed on the territory of Baku White City. About 12 percent of construction work has been carried out in each of these buildings.
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 company is planning to take part in new projects on the territory of Baku White City in the medium-term as the construction territory is expanding.
The construction territory in Baku White City is currently 250 hectares and it is planned to expand it to 650 hectares.
The company commissioned its first major premium residential complex on the territory of Baku White City in 2019.
The company has been operating on the Azerbaijani market for 15 years.
(1 USD = 1.7 AZN on April 9)
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