Private Investors Attracted to Construction of Social Housing

Baku / 02.28.19 / Turan: MIDA LLC, the state operator for the construction of social housing, has announced a competition to attract potential investors to the construction of apartment buildings.

Participation in the competition is paid (300 manat), and the intention of MIDA in terms of construction is indicated in the document on the competition. Turan News Agency asked the Competition Commission to provide information on the land area allocated for private construction and on the number of buildings. However, here they refused to answer the questions, referring to the fact that the competition was not held in accordance with the tender legislation. At the same time, the commission was unable to answer the question of what kind of legislative or regulatory act governs this selection of investors.

Applications are accepted until March 18.

Construction work is carried out on 15.4 hectares allocated in the Yasamal district under the Second Stage of the Yasamal residential complex. It is planned to build 40 residential buildings, which will consist of 2,002 apartments.

It should be noted that this is the second search by LLC MIDA of investors for the construction of multi-apartment buildings within the framework of the Yasamal Residential Complex project. The first contract was awarded to KAT Holding LLC in 2017. This company built three 12-storey buildings and one 9-storey residential building. Its investments were estimated at 10 million manat. One of the 12-storey buildings was transferred to the disposal of MIDA.--0--