The Business Year

Farid Asadov


In Good Company

CEO, Yeni Hayat


From 2000 to mid-2001, Farid Asadov was Deputy General Director of the Anglo-Azerbaijan Insurance Company, before becoming Head of the Marketing and Business Relations Department at the International Insurance Company, where he subsequently assumed the title of Sales and Marketing Director. In 2005, he moved to Ata Insurance Agency, becoming the Deputy Chairman of the Executive Board, before becoming Chairman of the Executive Board and Board of Directors in mid-2009. From April 2011 to October 2012, he worked as Chairman of the Executive Board of Ata Holding, thereafter being appointed CEO of Delta Group in January of 2013. Since 2014, he has been the CEO of Yeni Hayat.

TBY talks to Farid Asadov, CEO of Yeni Hayat, on establishing a five-star brand identity in a burgeoning real estate market, defined by high levels of customer satisfaction, construction quality, comfort, and design.

At the moment, what are the most important projects that Yeni Hayat is working on in Azerbaijan?

Yeni Hayat Group is one of the leading companies in Azerbaijan’s construction market from the standpoint of quality, location, design, and complexity. All of our projects are equally important to us. 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 terms of our current projects, we have four underway: Park Azure, Grand Hayat, Hayat Palace, and Hayat Towers. The construction of the Park Azure residential complex is expected to be completed toward the end of 2015, just in time for Yeni Hayat’s anniversary on December 20th. One of our most ambitious projects, namely the Hayat Palace, will be ready for delivery to our clients by December 20th, 2016. Furthermore, the Grand Hayat complex, which will host 1,900 residential units, that should be completed by December 20th, 2017. We have also the inauguration of the Hayat Towers project planned in 2015, which will consist of more than 3,000 residential units.

How did Yeni Hayat’s customer satisfaction strategy develop over 2014?

Yeni Hayat started operating in 2002, and since the first day, our guiding principle has been customer satisfaction. Today, Yeni Hayat provides a wide range of services, operating in both real estate and construction, as well as in the services sector. Our residential complexes, shopping and entertainment centers fully comply with the wishes and needs of customers in terms of their excellent price-quality ratio. Among our achievements in 2014, I would like to highlight the inception of new Hayat Management Company within the Yeni Hayat Group of Companies. This company will prvide different services to our residents. We apply our “7 S” standards in all our construction projects, which cover the provision of all services to building residents. Among them, we should mention the kindergarten, sports and fitness center, supermarket, and 24-hours security system.

At the moment, how would you assess the demand for Yeni Hayat’s projects?

I can say with confidence that today, Yeni Hayat is a well-recognized brand in Azerbajian’s real estate market, which is famous for its quality and high customer satisfaction. When people speak about Yeni Hayat, reliability and comfort instantly come to mind. We are collaborating with Hill International now, a company that manages the ongoing construction processes and controls the quality of concrete mix. Due to our focus on quality, Yeni Hayat is very popular today in the construction field.

Baku may become a hub for both tourism and business in the coming years. What are the benefits and challenges of the new era for Baku?

I would say that not only Baku, but also our whole country has changed in a very short period, and today Baku is a center for numerous international events and sports. There are no drawbacks, because everything that is currently happening in Azerbaijan benefits the economy. We like to think that we are a part of that, and that we are contributing to this overall success. All of this is happening thanks to the leader of Azerbaijan, President Ilham Aliyev. We are enjoying being a part of this progress and contributing to the overall success of our country.

Yeni Hayat for many years has supported sport in Azerbaijan. In what way is Yeni Hayat involved in the European Games?

Yeni Hayat is committed to promoting sport as well as supporting the Games. Such large-scale international events are important for Azerbaijan because they provide a boost for the economy. I want to emphasize that it is our duty as an Azerbaijani company to contribute to the development of our country in any field. Our interest in and support for the European Games team stems from our confidence in our athletes. We believe that our sportsmen will successfully represent our country and raise our national profile. We as Yeni Hayat Group feel proud of our athletes, and are always ready to support the national team.

In what way does Yeni Hayat collaborate with other corporations?

We attach great importance to our partners. We have strong relationships with our international and local partners, and we are always open to new partnerships. I can say with confidence that our partners provide us with high-quality materials and services, which meet international standards. We have also built mutually beneficial partnerships with several banks, such as the International Bank of Azerbaijan, Xalq Bank, Standard Bank, and Bank Technique.

What are your current expectations and objectives for 2015?

As previously mentioned, our major objective is to provide high-quality services to our clients, and to appeal to our potential clients. We also have to successfully complete the construction of our ongoing projects, and realize further ambitious and unique projects in future.



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