Reclaimed Land Ahoy

What progress has been made on the Khazar Islands project?

Construction efforts on the Khazar Islands project started three years ago, and will be conducted in four stages, the first of which is expected to be completed in 2014. In recent months, we have built a restaurant complex, a four-kilometer long boulevard, beaches, and entry gates to the project, as well as a sports complex, and have laid out parks. We are planning to inaugurate our first restaurant complex, the Stingray, on May 28, 2014, the national day of Azerbaijan, which is an important accomplishment for us as we have worked hard on this project. Over the next two years, we are planning to complete more construction and carry out several opening ceremonies, as well as hand over keys in residential schemes. The deadline for completing the entire complex is 2030.

What would you say are the key logistical aspects of the project and how are you addressing them?

Our priority is to employ the latest technologies and most durable materials in our project in meeting high international standards. The safety and comfort of our customers is key to what we do. For that reason, we will not be using any cement in the project, but rather will rely on marble and stone that we procure ourselves. Another important aspect is to ensure our staff is comprised of highly skilled employees through a thorough interview and selection process. We now have a team of over 3,000 professionals. Thirdly, securing funding is an important consideration that we address through negotiations with foreign investors, both abroad and at home, to familiarize them with the project. These efforts will all contribute to the development of future partnerships.

You are about to launch the sales campaign for the 12 residential buildings already completed. What customer base are you targeting?

We are open to both local and foreign customers, which we hope to welcome with attractive financing options such as mortgages without down payments and interest-free loans.