State agency in Azerbaijan attracting 20M manat for residential construction

By Trend

The State Agency for Housing Construction of Azerbaijan (MIDA) is attracting investments in the amount of 20 million manats for the construction of a residential building at a site of 15.4 hectares in the Yasamal district of Baku, Trendreports referring to the agency.

AS Tikinti LLC has become the winner of the competition and, by the agency’s request, will carry out construction in accordance with the design and estimate documentation that has passed the state expert examination.

AS Tikinti LLC is the second investor to invest in the construction. Earlier, housing construction company Kristal Absheron won an investment competition for the construction of multi-family residential buildings.

Also, LLC ENG?NET was the winner of the investment competition for the provision of telephone, television and Internet lines. The company will invest more than 1.5 million manats to provide the designated services.

As a result of the implementation of public-private partnership projects, MIDA attracted 5 private investors.