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Falling profitability in the construction sector reduces number of market participants in Azerbaijan

Falling profitability in the construction sector reduces number of market participants in Azerbaijan

30 April 2009 17:20 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. Declining profitability in Azerbaijanâ€™s construction sector has decreased the number of market participants, said Nusret Ibrahimov, head of MBA Consulting, who is one of the founders of the Baku Realtors Association.

According to him, due to falling profitability in the market small participants have been gradually leaving the market since the second half 2008.

â€œAt present, giants which benefits not only from the construction sector stayed in the market. These companies are directing their income from other areas to the construction sector. These construction companies prefer to build non-residential complexes rather than housing complexes,â€ he added.

In his words, the share of residential property construction has dropped from 60% to 20%, and the construction of non-residential buildings (hotels, business centers, etc.) has doubled.

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