MIDA" LLC under the State Housing Construction Agency signed on 10 July a final contract within the construction of a residential quarter in Fizuli city consisting of 38 4-7-storey buildings along Zafar Yolu road.
The construction of on-site communications (electricity, water, sewerage, heating, gas), landscaping and gardening of the territory, recreation park of the residential complex is entrusted to "Ricon" Ltd (Taxpayer Identification Number: 1900014631).
The company will be paid AZN 9 million 777.500 ($5.7 million) for these works to be carried out within 6 months on the area of 8.9 hectares. The same company received a contract worth AZN 680.400 from "MIDA" in the summer of 2022 to carry out vertical planning works of the construction site.
MIDA Ltd. signed 6 contracts for the construction of residential buildings consisting of 846 2-, 3- and 4-room flats. According to Turan News Agency's calculations, the total cost of these contracts was AZN 83 million 444.4 thousand or an average of AZN 98.6 thousand for one fully renovated flat with a kitchen set and a gas cooker. Full completion of these buildings is scheduled for January 2024.
MIDA Ltd. informs https://mida.gov.az/layihe/300008#menzil-planlari that flats in Fizuli will be put up for sale instead of being distributed to IDPs from the city.
MIDA is expected to start selling flats in Fizuli by the end of the year. No terms of the sale have been announced yet.
As a reminder, Fizuli city was destroyed to the ground by Armenia during the years of occupation (1992- 2020).
Source: Turan News Agency