First Phase Of Azerbaijani Caspian Islands To Be Completed By May
Source: http://www.nytimes.com/2013/02/10/magazine/azerbaijan-is-rich-now-it-wants-to-be-famous.html
#caspianisland #azerbaijan #construction #architecture
The Avesta Company has announced that the first phase of the 30 million square meters (3000 ha) Caspian Islands project will be completed by May 28, the Azertag state news agency reports. The first phase consists of several beaches, restaurants, bridges and about 4 kilometers of roads, as well as two 50 thousand square meters parks.
The project will be implemented in three stages. The total investment required in the Caspian Islands project is estimated at US$ 100 billion. In general, Caspian Islands is to comprise 50 artificial islands containing 19 high-rise residential districts with more than 150 schools and numerous other support institutions, also it is planned to construct 20 kilometers boulevard and 20 bridges. The city is to house 1 about million residents.
Caspian Islands is to be the site of the 1,050-meter Azerbaijan Tower, a proposal that is expected to cost more than US$ 2 billion to construct and is estimated to be completed by 2025. If completed, the Azerbaijan Tower would exceed the height of the under-construction 1,000-km Kingdom Tower in Saudi Arabia, currently set to be the world's tallest building by 2019. This Skyscraper is expected to construct during the second phase of project.
The owner of Avesta Ibrahim Ibrahimov is one of the richest men of Azerbaijan. He was born in May 28, 1955 in Nakhichevan. Near friend of presidential family Ibrahimov (he called Ilham Aliyev "the Boss of All Bosses") is going to occupy the penthouse at Azerbaijan Tower. Opposition figures say that Ibrahimov owes much of what he has to the Aliyev family, but when NYT correspondent Peter Savodnik asked him about it, he shrugged. Western financial analysts and real estate developers are understandably skeptical about Caspian Islands project. For one thing, there's President Ilham Aliyev's regime, which opposes political competition and other reforms that would diversify its economy and spur the long-term growth needed for this kind of mega-project (NYT).
The project will be implemented in three stages. The total investment required in the Caspian Islands project is estimated at US$ 100 billion. In general, Caspian Islands is to comprise 50 artificial islands containing 19 high-rise residential districts with more than 150 schools and numerous other support institutions, also it is planned to construct 20 kilometers boulevard and 20 bridges. The city is to house 1 about million residents.
Caspian Islands is to be the site of the 1,050-meter Azerbaijan Tower, a proposal that is expected to cost more than US$ 2 billion to construct and is estimated to be completed by 2025. If completed, the Azerbaijan Tower would exceed the height of the under-construction 1,000-km Kingdom Tower in Saudi Arabia, currently set to be the world's tallest building by 2019. This Skyscraper is expected to construct during the second phase of project.
The owner of Avesta Ibrahim Ibrahimov is one of the richest men of Azerbaijan. He was born in May 28, 1955 in Nakhichevan. Near friend of presidential family Ibrahimov (he called Ilham Aliyev "the Boss of All Bosses") is going to occupy the penthouse at Azerbaijan Tower. Opposition figures say that Ibrahimov owes much of what he has to the Aliyev family, but when NYT correspondent Peter Savodnik asked him about it, he shrugged. Western financial analysts and real estate developers are understandably skeptical about Caspian Islands project. For one thing, there's President Ilham Aliyev's regime, which opposes political competition and other reforms that would diversify its economy and spur the long-term growth needed for this kind of mega-project (NYT).
