Bank Of Baku

U.S. extends a grant for real estate services development in Azerbaijan

U.S. extends a grant for real estate services development in Azerbaijan
# 02 November 2009 15:29 (UTC +04:00)
Baku. Nijat Mustafayev - APA-ECONOMICS. The U.S. has extended a grant to Azerbaijan for the development of real estate services, said Rena Akhundov, Director of Caspian Property Services, one of the founders of the Baku Realtors Association.

According to her, the US International Real Property Foundation (IRPF) has extended a $30 million grant to the Association on the initiative of USAID.

"The proceeds will go to the capacity building of the Baku Realtors Association. A business plan has been developed. Work will be completed in 18 months,” she added.


In November 2008 the Baku Realtors Association was founded by MBA Consulting firm, New Europe, Baki Emlak and Caspian Property Services real estate companies.

The association has cooperation with Azerbaijan Entrepreneurs Confederation, Azerbaijan Appraisers Society and the International Finance Corporation.
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