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State agency: Subsidized housing sales may start by year-end

18 October 2017 [10:52] - TODAY.AZ

By Azernews

By Kamila Aliyeva

More Azerbaijani citizens are willing to purchase housing on preferential terms in Baku.

Approximately 6,500 people were registered to buy subsidized housing in Baku, Anar Guliyev, the head of the staff of the State Agency for Housing Construction (MIDA) under the President of Azerbaijan, told journalists on October 17.

"The sale of apartments is carried out through the electronic system ‘Subsidized housing’. Citizens who have the right to receive subsidized housing are being registered through this system. As of today, if I'm not mistaken, about 6,500 people have been registered," he said.

The next stage will begin after the sale of the first apartments, according to Guliyev.

"After the process begins, everyone who has been registered will have the opportunity to choose the appropriate apartment and the method of payment. It's hard to say for sure when the sales will start, but I think that we will be able to do it by the end of the year," he noted.

Currently, MIDA is engaged in the construction of the first Yasamal residential complex in Baku. The complex is expected to be fully commissioned in the summer of 2018.

The foundation of the building was laid on December 24, 2016. The complex will consist of 29 multi-apartment residential buildings: 17 of them will be two-block and nine-storey and 12 - one-block and 12-storey. Some 301 of 1854 apartments in these buildings will be one-room, 1,110 - two-room, 443 - three-room. The area of one-room apartments will be from 31 to 33 square meters, two-room apartments - from 50 to 58 square meters, three-room apartments - about 70 square meters.

Also, the work is underway on preparation of master plan for the Hovsan residential complex, which is the second project of the state agency.

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.

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

The State Agency for Housing Construction under the President of Azerbaijan was established in April 2016 upon the presidential decree.

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.


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