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Germany extends a grant for Cadastre and Real Estate Registration Project in Azerbaijan

29 June 2009 13:32 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. The German Development Bank (KfW) has extended a grant to the Government of Azerbaijan for the preparation of the Cadastre and Real Estate Registration Project in Azerbaijan.

The KfW Office in Baku said under an agreement with Azerbaijanâ€™s State Real Estate Registration Service, the â‚¬453 000 grant will be used for preparation of the project.

â€œA firm has been picked for a feasibility study. This firm will soon select a project consultant. After consultant selection, the project will be launched after 18-months preparatory work,â€ said the KfW office.

The parties signed an agreement on the financing of the tender specialists and the conceptual phase of the Cadastre and Real Estate Registration Project for Ganja and Sheki in February.

The aim of the project is to prepare a digital map cadastre of real estate objects in these areas, create conditions for more rational use of citizen-owned land, ensure activity and transparency in the real estate market and spur economic development in the region.