The Supervisory Board of MIDA Limited Liability Company holds a regular meeting17/10/2018

On October 16, 2018, a regular meeting of MIDA Limited Liability Company, acting under the State Housing Development Agency of the Republic of Azerbaijan, took place.

Chairperson of the Board of Directors of the State Housing Development Agency Sadig Sadygov brought the meeting’s agenda to the attention of the members, the issue of electing chairperson of the Supervisory Board of MIDA LTD, and offered to appoint head of the Agency’s Office Mr. Chingiz Gadimov to this position. Members of the Board, having unanimously accepted the proposal, approved appointment of a new candidate to the position of the chairperson.

Thereafter, the report of the director of MIDA LTD on the results of the works carried out by the Company in the course of the 9 month-period of 2018 was heard. It was noted that significant progress has been achieved in the construction of the Yasamal Residential Complex, the first project of MIDA. The finishing and decoration works on all the residential buildings of the complex and the secondary school building designed for 960 pupils are near completion. In addition, construction of the kindergarten designed for 240 children is also continuing at a high pace.

Moreover, information was also given about the high-speed construction of the Hovsan Residential Complex, another project of MIDA. With the foundation being laid in December 24 last year with participation of President of the Republic of Azerbaijan Ilham Aliyev and First Lady Mehriban Aliyeva, construction of the first 7-storied residential building is continuing on the 5th floor. In parallel, construction of another 7-storied building has started. About 3000 apartments are planned to be commissioned within the framework of this project implemented in 20 hectares of Surakhani district of Baku.

It was noted that, design and development works on the second phase of the Yasamal Residential Complex, located in a 15.4 hectare-area along the external circular road in Yasamal district, Baku city, have started. At the moment, works on allocating land plots for the construction of affordable housing in Sumgait and Ganja cities have started, along with Baku.

In the reporting speech was underscored that another significant achievement of 2018 was the selection of 324 apartments in buildings No. 1, 2, 3, 4, and 5 of the Yasamal Residential Complex, the first project of the State Housing Development Agency, via the “Affordable Housing” electronic system, on equal conditions, in a safe, transparent and uninterrupted work mode, over the Electronic Government portal (www.e-gov.az). At the moment, legalization of the apartments chosen is being carried out. The apartments are expected to be handed over to their owners before the end of the year.

At the end of the meeting, the issue concerning the selection of an external auditor to conduct the auditing of MIDA LTD’s financial and economic activity was discussed, and a decision was taken to start the purchasing procedure in accordance with Law of the Republic of Azerbaijan on State Purchasing.

State Housing Development Agency of the Republic of Azerbaijan

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