TODAY.AZ / Business

Construction of second subsidized housing complex to start by year-end

17 November 2017 [14:09] - TODAY.AZ

By Azernews

By Aygul Salmanova

The State Housing Construction Agency (MIDA) plans to construct the second subsidized housing complex for a privileged category of the population in the capital city.

Construction of the second preferential housing complex in Hovsan settlement of Baku's Surakhani district could begin by late 2017, said Anar Guliyev, Head of the Administration of the MIDA.

Guliyev said the design and estimate documentation has already been prepared, and the work will begin in the near future.

A land plot of 20 hectares is allocated for the construction of social housing in the village of Hovsan. A total of 3,000 apartments are planned to be built.

MIDA LLC is subordinate to the State Agency for Housing Construction under the President of Azerbaijan, which was established in April 2016 upon the presidential decree.

Currently, the agency is building a residential complex for a privileged category of the population in the Yasamal district of Baku, the construction of which will be completed in the middle of the next year. The foundation of the first building was laid on December 24, 2016. 

MIDA has started registration of persons wishing to purchase subsidized housing since May 30, 2017. A preferential mortgage is issued only in the Azerbaijani manat and given to citizens of the country.

So far, around 7,000 people registered to buy subsidized housing, which is carried out through the "Subsidized Housing" electronic system. The sales are expected to start soon.

“The sale of apartments will start in the next few months and I hope that by the summer of 2018 the residents will receive the first preferential apartments,” Guliyev said.
Talking about the website, MIDAs’ Head of the Administration noted that it consists of five main sections that allow the customers to familiarize themselves with each building of the complex, apartments, number of rooms, examples of interior and other useful information.
Thanks to the website, it will also be possible to find out about the transport infrastructure of the complex, the repair of apartments and the materials used, he noted. 

The key objective is to meet the demand of people for housing, to improve their living conditions, to provide construction in modern architectural style that meet environmental requirements and energy efficiency requirements, as well as to improve public administration in the field of urban development and construction.

The main essence of preferential terms is that the cost of apartments will be lower than the average market value in the territory.

Subsidized housing is expected to become the best solution for the citizens with low or moderate incomes. Furthermore, after this process gets a massive scale, it will have a positive impact on the sectors of construction and production of building materials, eventually contributing to our overall industrial potential.

The complex in Yasamal will consist of 29 multi-apartment buildings. A number of social facilities will be built in the complex, including a 240-seat kindergarten and a 960-seat secondary school. The opening of this first project is scheduled for 2018.


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