228:, a debt then reckoned to be around US$ 57 million. After Ibrahimov's release, company statements later insisted that the project was still scheduled to be completed between 2020 and 2025 with investors from China cited as keen to fill the funding gap. In an April 2017 interview, Ibrahimov insisted that long-delayed works would finally restart later that year. In October 2017 Ibrahimov was reported to have restarted his work with Avesta and declared that he would not leave Azerbaijan but raised doubts as to the continuation of the Khazar Islands project and as of January 2018, there is little sign of any work resuming.
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205:(planned to have been the tallest in the world). The city was expected to be equipped with 150 bridges and a large municipal airport to connect the islands to the mainland. It is expected that, in general, the city, when completed in 2022–2023, will host 1 million residents. According to the project, the price of completely renovated apartments will be around $ 4000–$ 5000 per square meter.
224:'s economic boom. In August 2014, the main beach area was opened with a fanfare with many sky-scraper buildings already part constructed. However, the project's gigantic scale and overly ambitious design became more obvious in 2015 as the oil price crashed. Between May 12 and May 27, 2015, Ibrahimov was arrested due to his company's inability to start repayment of his/Avesta's debt to the
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The stated plan was for $ 100 billion, with $ 30 billion coming from foreign investors and another $ 30 billion from apartment sales, the city aiming to house 1 million residents in a development with 150 schools, 50 hospitals and daycare centers, numerous parks, shopping malls, cultural centers and
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All of these facilities were to be able to withstand up to magnitude 9.0 earthquakes. The president of the controlling Avesta Group of
Companies,
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consisting of 41 islands extending 3,000 hectares (30 km; 7,400 acres; 12 sq mi) into the
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Construction on Khazar
Islands began in March 2011 and substantial building works were achieved during
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New York Times article on
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398:"Azerbaijan's Plans for a One Kilometer-Tall Skyscraper"
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Azadliq video report of August 2014 celebration concert
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Evgrashina, Lada; Antidze, Margarita (April 11, 2012).
267:"Azerbaijan aims to put up world's tallest building"
311:"Azerbaijan To Build One Kilometer-Tall Skyscraper"
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548:Milli.az report on Avesta and the Khazar Islands
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474:"Azerbaijan to build world's tallest skyscraper"
599:"Azerbaijan Is Rich. Now It Wants to Be Famous"
510:"Haji Ibrahim Nehramli - Dream Big, Dream Tall"
16:Development of artificial islands in Azerbaijan
559:Reports of April 2017 interview with Ibrahimov
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49:25 km (16 mi) south of Baku, Azerbaijan
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400:. The Altlantic Cities. Archived from
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658:Political controversies in Azerbaijan
597:Savodnik, Peter (February 8, 2013).
438:Valiyev, Anar (2013-04-01). "Baku".
358:Valiyev, Anar (2013-04-01). "Baku".
289:Iliaifar, Amir (February 10, 2012).
396:Medina, Samuel (February 9, 2012).
339:Alexander, Anila (April 13, 2012).
309:Medina, Samuel (February 9, 2012).
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452:10.1016/j.cities.2012.11.004
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345:International Business Times
313:. Architizer. Archived from
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238:List of artificial islands
570:Xural Report October 2017
269:. Reuters. Archived from
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633:Avesta Concern Homepage
628:Khazar Islands Homepage
216:Construction and demise
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75:40.24134°N 49.634242°E
653:Islands of Azerbaijan
404:on September 11, 2012
273:on December 12, 2016.
80:40.24134; 49.634242
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170:artificial islands
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293:. Digital Trends.
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164:), also known as
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141:Capital city
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446:: 625–640.
366:: 625–640.
182:Caspian Sea
158:Azerbaijani
91:Archipelago
78: /
54:Coordinates
642:Categories
520:2018-02-01
249:References
222:Azerbaijan
178:Azerbaijan
133:Azerbaijan
66:49°38′03″E
63:40°14′29″N
613:0362-4331
460:0264-2751
380:0264-2751
199:racetrack
195:Formula 1
41:Geography
408:June 27,
321:June 27,
232:See also
197:quality
188:The plan
46:Location
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440:Cities
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360:Cities
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609:ISSN
456:ISSN
410:2012
376:ISSN
323:2012
174:Baku
152:The
145:Baku
109:Area
448:doi
368:doi
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
