In 2023, the share of non-state-owned enterprises in the total volume of construction work carried out in the Republic of Azerbaijan reached 88.8%. Additionally, investments in the construction sector increased by 110% compared to 2022, reaching a record level of 11,220,338,800 AZN.

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On 27/01/2025
Comments Off on In 2023, the share of non-state-owned enterprises in the total volume of construction work carried out in the Republic of Azerbaijan reached 88.8%. Additionally, investments in the construction sector increased by 110% compared to 2022, reaching a record level of 11,220,338,800 AZN.
Newer The infrastructure sector led the construction market in 2023 due to state investments in road construction and transportation projects. Additionally, residential areas have significantly increased, with the per capita living space growing from 17.6 m² to 20 m² over the past 10 years. Furthermore, this figure is planned to rise to 25 m² per person by 2040.
Older In 2023, the total volume of the construction market of Azerbaijan was estimated at a record value of 18.36 billion manats. However, the average annual growth rate predicted between 2025 and 2028 will be more than 4% and it is expected to reach 22.34 billion manats in 2028.