As reported by Azerbaijan Statistic Board, the growth in construction sector for 9 months from the beginning of 2010 totaled 31.9%! At the same time, the research of Azerbaijan Property Market Participants Public Union shows an average 18 per cent growth for construction materials prices for the same 9 months period. It means that real construction work increase is not so impressive taking into account the sharp rise in prices of basic construction materials. Oil Republic is clearly, and little by little evolving in Dutch disease, which sooner or later the Government must fight. But the construction market of Azerbaijan still really shows some significant growth. Ambitious construction projects feed by oil dollars likens Baku with many Arab world "oil cities". One of the largest construction companies in Azerbaijan is Pasha Construction, which is a part of Pasha group and according to recent publications of WikiLeaks, belongs to one of the most powerful families of Azerbaijan - Pashayev family, with head of the First Lady of Azerbaijan Mehriban Aliyeva (nee Pashayeva). The power and richness of any State somehow equates with the construction of skyscrapers. About twenty years ago the United States held apparent superiority in the competition of the highest skyscrapers in the World. But today China, the Middle East and Asian countries entered into this competition and left United States behind new high rise construction records. Azerbaijan also entered into this competition and is trying to live its own sign in the list of world architecture masterpieces. In photos below you can see several just completed and under construction projects in Baku. Photo Sources: www.skyscrapercity.com; www.azerb.com; www.mehriban-aliyeva.com Baku. SOCAR Tower (State Oil Company of Azerbaijan). Height 200 m, 40 up ground and 2 underground floors. Construction began in mid-2010. Heerim Architects & Planners Co. Ltd. Port Baku Complex with residential, public and commercial premises. Tower with 33 floors. General contractor Pasha Construction. Construction start 2010. Planned completion date 2012. Flagpole in Baku With height of 162 m currently (2010) the tallest in the world. Previous tallest record holder was Ashgabat flagpole with height of 133 m. However already in 2011 a 165m high Dushanbe flagpole will bit Baku record. Kazakhstan built its flagpole in Astana earlier what is the main reason of only 111m height. Which will be the next higher!? Baku. Flame Towers Three towers with heights 235 m, 220 m and 208 m, podium with 78 m height. Developer Diaholding Group. Construction starts in 2008. Planned completion date 2011. Baku. Crescent Tower Height 203 m with 43 floors. Construction start 2009. is planned for late 2009. Planned completion date 2013. Project operator Aecom. Baku.XI Park Plaza 2 towers with 55 and 35 floors. Design by Korean Changjo Architects Inc. . Construction starts in 2007

It seems that eco-towns will soon become the most sought developments in new town planning. Computer giant Apple Inc., which became the most valuable technology company in the world in 2010, purchased land in the small town of Cupertino that claims to be the "heart" of Silicon Valley, as many technology companies were founded here and in the surrounding areas. Apple needed an additional land for expansion of current headquarter premises in Cupertino and bought 40 acre area from HP last month for about $300M to build "green" Apple City. Apple's new headquarters will include a network of tunnels that joins the buildings together while maintaining green surface, and the most important- project will feature a strong focus on creating a sustainable environment, and much of the development's infrastructure will be built around renewable energy. The project will be implemented by the leading British architectural bureau Foster+Partners. Lord Norman Foster is one of the most famous contemporary architects. He is the author of "cucumber" skyscraper and the Millennium Bridge in London, Hearst Tower in New York, renovation of Reichstag dome in Berlin and many other projects. In Russia Foster is known as the author of the redevelopment projects of hotel complex "Russia", the Pushkin Museum, the transformation of the complex "New Holland" in St. Petersburg into cultural and entertainment facilities. Foster is the recipient of hundreds of international prizes and awards. Apple City will be similar to another outstanding project of Foster - Masdar city, the construction of which started in 2008 in Abu Dhabi, UAE and will cost about $ 22 billion. Masdar, currently is the biggest eco-town project in the World.

Recently Government approved the concept represented by the Ministry of Economy on the establishment of international highland sports center on Lake Sevan shore, near the village Tsovagyuh, which, by the ministry's assumption, will be a unique in the world, and will be equipped with ultramodern sports equipment. The complex is going to occupy 3 km long shore area and will consist of both indoor and outdoor sports facilities, including water sports. It is planned to build a golf course with 18 holes, 4 tennis courts, covered football field, basketball and volleyball courts, a swimming pool ... In general, the list includes almost all summer sports, including even such as Geocaching (a treasure hunting game where you use a GPS navigation). The feature of the complex will be its total power supply by solar energy. In the concept was noted an agreement with German 'Ersam & Gottwald GbR' company on writing a preliminary business plan, which has requested 32.75 million drams($91000) for this, of which 19.2 million drams ($53300) will be paid immediately, regardless of the fate of the project, and the residue, 13.47 million drams($37400), will be paid only after finding an investor for the next stage of the project. The project will be implemented by the National Competitiveness Fund, which recently successfully completed Tatev monastery restoration project, including the longest Ropeway in the World. Maybe we can find investments for this ambitious project, but however, it will be very hard to achieve the status of the unique international high-end sports center.

The leading property developer of Cyprus and the Greek Islands Leptos Group launched the construction of Neapolis Smart EcoCity. The Eco City will be located on a 1.1 million sq.m. site in Pafos in the mythical "Aphrodite Gardens". The Neapolis Smart EcoCity is the first project of its kind in the Mediterranean and one of the largest in Europe and anticipated to generate gross development value (GDV) in excess of 2.5 billion euros offering sustainable annual returns to its investors during the 13 year development period. The Leptos Group has 50 years of experience in property development business and success of the project ensured almost 100 per cent. The philosophy of Michael Leptos, founder and executive chairman of the Group, is to execute projects with sophistication, quality and excellence in design whilst remaining conscious of the environment it shares. The Neapolis Smart EcoCity is founded on the concept that superior lifestyle combining healthcare, education, research, residential, retail and business services are inextricably linked with the environment. The project will generate 8000 new jobs by the close of 2018, contributing significantly to the local economy. The first phase of this project, consisting of the innovative smart eco-city infrastructure, the Neapolis Hospital and the Assisted Living Residences is already underway and will cost about 171mln euros.

Dubai wants to beat all records for high-rise construction. At the beginning of the year, the tallest building of the world, wonderful Burj Khalifa with 823 m height, opened its doors for public. At the end of the next year Dubai is going to set the new world record, now for the highest all-residential skyscraper. As reported by Tameer developing company, the 414-metre tall Princess Tower in Dubai's high-profile Dubai Marina will be ready for delivery by fourth quarter of 2011. The 107-storey building with 723 apartment units will hold residential height leadership only for two years, because in 2013 in the same area of Dubai will complete 516 m tall and 120 storey luxury Pentominium Tower construction, the design of which already won several professional awards. By definition of Council on Tall Buildings and Urban Habitat, current World Number One all-residential building is the Australian Q 1(Queensland Number One; Surfers Paradise, Gold Coast), standing 323-metre high with 78 floors.