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