Project Khazar Islands invested $ 1.5 billion

For a short period the project Khazar Islands - a new city near the coast of the capital on the area of ​​3,500 hectares has been invested $ 1.5 billion. According to the plan of the investors, by 2016 the city will be able to take the first 100 thousand inhabitants. By that time, there will be ready entertainment and recreational facilities in the place.

According to the group Avesta, to date, on an archipelago consisting of several islands at relatively shallow depths (5 meters), they have carried out excavation work on 500 hectares. The project consists of four phases and will be completed in 2025-26, respectively. It is assumed that in Khazar Islands 1 million people will live on a permanent basis. Luxury hotels will be built there.

Construction of the project is estimated at $ 100 billion. The construction company Avesta still finances the construction from its own funds. However, intensive talks with investors from the Arab and other countries are held. In this case, investors' participation in the project is seen as a form of participation in the capital, and the acquisition of certain real estate.

The company Avesta told Turan that one square meter of housing in the islands is previously offered to customers at 4,000 manats. Bookings can be made now. - 08D-