Azerbaijan’s government plans to create almost 10,000 new jobs in the construction sector by 2020, says the Strategic Road Map for the development of housing provision at a reasonable price in the Republic of Azerbaijan.
Implementation of the measures reflected in this Road Map is expected to help increase Azerbaijan’s GDP by 249 million manats until 2020, according to the document.
"The government plans to strengthen the position of the State Housing Construction Agency (MIDA) by 2020 to meet the housing needs in the country,” reads the document. "It also plans to start a complete reconstruction of the country’s cities by 2025.”
It is also expected to eliminate shortcomings in the development of housing sector in Azerbaijan’s districts after 2025, says the document.
The government plans to design and implement the housing provision at a reasonable price, to provide MIDA with authority on the basis of a defined strategy and objectives, to introduce the basic mechanisms that create favorable conditions for the housing market with affordable prices, according to the Road Map authors.
MIDA will also prepare projects on the provision of housing to the population at affordable prices to meet urgent housing needs, says the Road Map.
Overall, it is planned to invest 900 million manats in the implementation of the measures envisaged in the Road Map. These funds will be allocated from the state budget as well as from other sources - Azerbaijan’s National Fund for Entrepreneurship Support, Azerbaijan Mortgage Fund, international financial organizations, bank loans, securities, etc.