BAKU, Azerbaijan, April 29. Over the period covering 2006–2026, approximately 58,000 mortgage loans with a total value of 3.87 billion manat ($2.2 billion) were issued, and the number of rental apartments with a purchase obligation reached 9,306, Anar Guliyev, Chairman of the Committee on Urban Planning and Architecture, stated at an event titled "Entrepreneurship Development is a Strong Economy," held in Baku today,TurkicWorld reports.
He emphasized that mortgage lending has contributed to the activation of the housing market, accelerated the implementation of new projects, and increased the investment attractiveness of the construction sector.
According to him, this instrument has supported improvements in social welfare, ensured the long-term and stable development of the construction sector, and contributed to the formation of a more stable and predictable market environment for both local and foreign entrepreneurs.
Guliyev further noted that over the same period, approximately 58,000 mortgage loans totaling 3.87 billion manat ($2.2 billion) were issued, while the number of rental apartments with a purchase obligation increased to 9,306. In addition, support mechanisms amounting to 707 million manat were applied in the form of guarantees and subsidies.
The chairman added that these measures reflect consistent policies in the fields of urban planning, reconstruction, and housing provision, as well as contributions to global challenges related to climate change and urbanization, alongside joint initiatives with the UN-Habitat Program. He also noted that 2026 has been declared the "Year of Urban Planning and Architecture" in the Republic of Azerbaijan.
