BAKU, Azerbaijan, May 18
By Matanat Nasibova - Trend:
Azerbaijani Agsaray Residence company has completed 80 percent of the work on a multi-story building which is under construction in Baku White City, a source in the company told Trend.
According to the source, the construction of this building is planned to be completed in December 2020, and the sale of apartments will begin from January 2021.
“The apartments will be sold as part of turnkey construction; their area will vary from 91 to 200 square meters,” the source said. “The minimum cost of one square meter in this building is 1,600 manat ($941.2) and the maximum - 2,300 manat ($1,350). 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 15-20 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 next year 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 nearly 16 years.
(1 USD = 1.7 AZN on May 18)
