In the first quarter of 2015 about 49 000 operations for registration of rights to real estate were carried out in Azerbaijan, which is 11.1% more than in the same period last year, the State Committee for Property Affairs said.
During this period, the rights to more than 11 000 properties were registered for the first time. In annual terms, the operation of the primary registration of real estate fell by 12%. Activity on the sale of real estate increased 20%. Within three months of this year, they have become the subject of 38,000 objects.
The most popular type of real estate market was land holdings: from the beginning of the year operations with 27,000 parcels of land have been carried out.
It should be noted that this year two legal acts were adopted, aimed at the legalization of individual houses built without compliance or permit procedures. However, the problem is not fully resolved: still the only legal document at many owners of individual houses is a contract with the municipality to allocate land. 08B
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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