Istisu Village Project
Chairman of the State Committee for Urban Planning and Architecture Anar Guliyev, revealed ambitious plans for the new Istisu settlement on social media, following the foundation-laying ceremony attended by President Ilham Aliyev in Kalbajar on September 2, 2024.
The Istisu settlement, spanning 63.1 hectares in western Kalbajar district, is set to be developed in phases. The initial phase will see the development of 39.2 hectares, with plans to construct 159 private homes. Future phases of the project include the building of 71 townhouses, which will contain a total of 142 apartments, alongside 10 additional buildings housing 180 apartments.
The settlement's design also incorporates critical social infrastructure. Planned amenities include a school with capacity for 352 students, a kindergarten with 100 places, an administrative building, a sports and wellness center, and a medical center.
The Istisu settlement aims to adhere to modern standards and is envisioned as a significant regional center, enhancing the local infrastructure and providing essential services to its future residents.
Economics
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By the end of 2024, inflation in Azerbaijan is projected at 5.1%, increasing to 5.8% in 2025, as per the Central Bank's announcement. Just six months ago, in April, the bank had forecasted inflation at 3.5% for 2024 and 4.2% for 2025.
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The Cabinet of Ministers of Azerbaijan has approved the charter of the "Tourism and Recreation Zones Management and Development Center," a public legal entity under the State Tourism Agency. The decision, made on November 4, is intended to fulfill the requirements outlined in the presidential decree from August 2, 2024.
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A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.
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Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.
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