MIDA is expected to attract private investment amounting to about 22 million Manats in the framework of the next state-private sector partnership24/05/2019

In accordance with the actions plan defined by the “Strategic Roadmap on the advancement of provision with affordable housing in the Republic of Azerbaijan”, approved by Decree No. 1138 of the President of the Republic of Azerbaijan, dated 06.12.2016, the State Housing Development Agency of the Republic of Azerbaijan continues implementing state-private sector partnership projects.

So, “AS Tikinti” LTD (www.asgroup.az ), the winner of the investment bids, held with the purpose of minimizing state financing and attracting private construction-investment companies to cooperation, will secure the investment required for the construction of 6 apartment buildings a 15.4-hectare area along the External Circular Roan in the Yasamal District, Baku City. Total amount of the investment required for the construction of these buildings is expected to make up some 20 million.

The investor-winner of the bids will gain the right to perform construction of the buildings in accordance with the construction documents prepared by the order of “MIDA” LTD and confirmed by a state expert examination, and benefit, in the course of performing construction works, from engineering and communication systems and relevant infrastructure on the territory of the complex. In accordance with the terms of the bids, 100 (6 one-room, 36 two-room, and 58 three-room) of the apartments in 6 buildings (2 twelve-storied, 4 nine-storied) will be placed at the disposal of the State Housing Development Agency and, putting them to sale through the “Affordable Housing” system, will be offered to persons who have the right to acquire an affordable housing. The remaining apartments would be sold by the investor to those who are interested in purchasing an apartment for a market price.

“AS Tikinti” LTD is the second investor to invest in the construction of apartment buildings in a 15.4-hectare area along the External Circular Roan in the Yasamal District. Earlier, “Kristal Absheron MTK” (www.kristalabsheron.az) was the winner of the bids opened for the construction of 12 apartment buildings.

The winner of the investment bids held for laying the telephone, TV and Internet lines on the territory of the Residential Complex constructed in a 15.4-hectare area along the External Circular Roan in the Yasamal District and of the Hovsan Residential Complex, and provision of relevant services to the residents was “ENGİNET” LTD (www.enginet.az). This company is going to invest over 1.5 million Manats for the creation of the relevant communication infrastructure on the territories of the residential complexes.

As a result of implementing state-private sector partnership projects, 5 investors have already been attracted by SHDA.

State-private sector partnership projects implemented by SHDA in accordance with the Strategic Roadmap create advantageous conditions for the activity of the affordable housing market in the country, at the same time, contributing to the implementation of the state policy aiming at strengthening of the investment environment, and advancement of entrepreneurship.

State Housing Development Agency of the Republic of Azerbaijan

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