The Business Year

Babak Babayev

AZERBAIJAN - Real Estate & Construction

All Involved

Founder, Yeni Hayat


Babak Babayev was born in Nakhichevan in 1970 and worked until 2001 in the private sector in Moscow. In 2002, he returned to Azerbaijan and established Yeni Hayat.

What were Yeni Hayat’s most important projects in 2013? Yeni Hayat Group started operating in 2002, and ever since the first day our main guiding principle has been customer satisfaction. […]

What were Yeni Hayat’s most important projects in 2013?

Yeni Hayat Group started operating in 2002, and ever since the first day our main guiding principle has been customer satisfaction. Our residential complexes, shopping, and entertainment centers fully comply with the wishes and needs of the customers in terms of their price-quality ratio. Yeni Hayat Group is one of the leading companies in Azerbaijan’s construction market from the standpoint of quality, location, design, and complexity. Yeni Hayat has built some of the architectural and construction gems of Baku, such as the Yeni Hayat Residence, Yeni Hayat Plaza, and the Azure Complex, which comprises the Azure Residence, Azure Business Center, and MegaFun entertainment center.

In light of the company’s extensive experience in residential construction, what characterizes Yeni Hayat’s residential concept?

One of the key contributors to the success of the Yeni Hayat Group has been its approach to customers’ needs and expectations. Before embarking on any project, we try to identify what customers in this particular market segment tend to expect and require. At the construction stage, we provide even higher quality than the customer may expect. In addition to the above, we remain committed to this approach at the selling stage and try to provide the best possible value for people’s money.

Yeni Hayat is recognized for its support of Azerbaijani sports, and the Olympic team in particular. Seeing how the country will host the first edition of the European Games in 2015, what are your plans in this area?

The inaugural European Games will be held in Baku in 2015 and will be held once every four years thereafter. I want to emphasize that it is our duty as an Azerbaijani company to contribute to the development of our country in any sphere. Our interest in and support for the Olympic team stems from our confidence in our athletes. We believe that our sportsmen will successfully represent our country and raise our national flag. We as Yeni Hayat Group feel proud of our athletes and are always ready to support the national team.

What projects are you planning for 2014-2015?

The ongoing construction of the Park Azure residential complex is expected to be completed by September 2015. Furthermore, the Grand Hayat complex, which offers customers innovative designs, will also be inaugurated in this period. For 2014, we have also planned the inauguration of one of our most ambitious projects, namely Hayat Palace.

President Aliyev was voted in for a third term in office last year. What do you expect this third term to bring for the real estate sector?

Over the past several years Azerbaijan has become one of the fastest growing nations across the globe. The economy has grown 3.4 times. Some of the primary reasons for that are the reforms under way in the country, stability, and public order. Of course, this stability is a product of President Ilham Aliyev’s activities. It has also created favorable conditions for the economic development of Azerbaijan. The President has always been very supportive of private enterprise development, and we are confident that this support will continue to be provided in the interests of further dynamic development of our country.



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