By Nigar Abbasova
Azerbaijan seeks to attract real-estate investments to revive the local market, especially the real estate market of the capital city.
Head of the State Committee on Property Issues Kerem Hasanov, who addressed the opening of the exhibition on real estate and investments RecExpo II on November 22, said the main goal of the exhibition is to revive the country’s real estate market.
Hasanov further noted the necessity of increasing the volume of local and foreign investments, as well as familiarizing foreign investors with the real estate market of Azerbaijan and involving them in the privatization process, which is currently underway in the country.
Azerbaijan’s State Committee on Property Issues is engaged in the process of privatization of state-owned properties, while the acceleration of the process is defined as an important direction of the economic policy.
The privatization process is designed to attract both foreign and local investors, as well as improve the business environment of Azerbaijan.
Transport Minister Ziya Mammadov, who also addressed the event, said that the exhibition is of big importance for the attraction of investment in the market.
RecExpo II is the only specialized exhibition in Azerbaijan dedicated to real estate, he said.
Around 100 real estate projects of Azerbaijan, Europe, Central Asia and the Caucasus will be presented at the exhibition. Along with the 15 largest Azerbaijani companies, construction and investment companies representing 10 countries, including Turkey, UAE, Russia, Spain, Portugal, Croatia, Hungary, and Georgia will present their projects at the Baku Expo Centre, which hosts the event. Being a reliable investment instrument, real estate is deemed to be one of the most effective means to preserve and increase capital.
The participants will be familiarized with the most recent reforms on the improvement of business environment, investment climate in the country, as well as novelties in the sphere of privatization.
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
Follow us on Twitter @AzerNewsAz