OFFPLAN NEWS

(02.07.2007 )
Real estate Azerbaijan Volume of Construction Activities to Increase in Azerbaijan

According to experts, the construction of Azerbaijan off plan properties is expected to increase. Construction work and activities carried out from January to March 2007 totaled a sum of AZN 462.3 mln. This by 47.1 % more compared to the corresponding period of 2006, the State Statistics Committee says.

The share of state-run enterprises in the construction sector was AZN 136.9 mln, with AZN 325.4 mln falling to the private sector.

79.7 % of the total volume of construction work or AZN 368.3 mln was newly-erected buildings, refurbishment, reconstruction, and overhaul, 12.2 % or AZN 56.5 mln on overhaul activities, 4 % or AZN 18.5 mln on current repairs (maintenance works), 4.1 % or AZN 19 mln on other construction activities.

In January-February 2007, the monthly average wage of employees working in the construction industry reached AZN 366.2, 18.5 % more compared with the corresponding period of 2006.

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