MIDA at­tracts in­vestors for con­struc­tion of res­i­den­tial com­plex

Azer News - - Front Page - By Sara Is­rafil­bay­ova

The State Hous­ing Con­struc­tion Agency (MIDA) un­der the Pres­i­dent of Azer­bai­jan plans to at­tract in­vestors, who have the po­ten­tial to build three dwelling-houses in the ter­ri­tory of the hous­ing com­plex in the Yasamal dis­trict of Baku.

The State Hous­ing Con­struc­tion Agency (MIDA) un­der the Pres­i­dent of Azer­bai­jan plans to at­tract in­vestors, who have the po­ten­tial to build three dwelling­houses in the ter­ri­tory of the hous­ing com­plex in the Yasamal dis­trict of Baku.

The Com­pe­ti­tion Com­mis­sion re­ported that se­lec­tion will be con­ducted on a com­pet­i­tive ba­sis.

The cost of par­tic­i­pa­tion in the con­test is 300 man­ats ($176.2), which can be paid by 5:00 p.m, June 17. Pro­pos­als from po­ten­tial in­vestors will be ac­cepted un­til 5:00 p.m on June 29, reads the re­port pub­lished in the of­fi­cial press on June 13.

For the con­struc­tion of this res­i­den­tial com­plex, a land plot of 11.6 hectares was al­lo­cated last year. The com­plex is planned to be com­pleted in mid-2018.

The town will con­sist of 29 multi-apart­ment res­i­den­tial build­ings: 17 of them will be two-block and nine­storey and 12 - one-block and 12storey. Some 301 of 1854 apart­ments in these build­ings will be one-room, 1110 - two-room, 443 three-room. The area of one-room apart­ments will be from 31 to 33 m2, two-room apart­ments - from 50 to 58 m2, three-room apart­ments about 70 m2.

The MIDA has al­ready started regis­tra­tion of per­sons wish­ing to pur­chase sub­si­dized hous­ing from. The monthly pay­ment for the pur­chase of a three-room apart­ment in a mort­gage will not ex­ceed 300 man­ats ($176.2) and for a one-room apart­ment it will amount to 130-150 man­ats ($76.4-$88.1).

The sec­ond project on con­struc­tion of so­cial houses will also be im­ple­mented in the cap­i­tal city. Within the sec­ond project, houses are planned to be con­structed in Su­rakhani dis­trict, near Hovsan set­tle­ment and cover an area of some 20 hectares.

The State Agency for Hous­ing Con­struc­tion un­der the Pres­i­dent of Azer­bai­jan was es­tab­lished on April 11, 2016 by the de­cree of Pres­i­dent Il­ham Aliyev.

The main essence of pref­er­en­tial terms is that the cost of apart­ments will be lower than the av­er­age mar­ket value. In ad­di­tion, cit­i­zens will be able to monthly pay the cost of the apart­ment through a soft mort­gage loan of the Azer­bai­jan Mort­gage Fund for a pe­riod of 3 to 30 years. The apart­ments will be com­pletely ren­o­vated and equipped with kitchen fur­ni­ture.

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