New urban planning projects implemented in Baku affect both the economic and aesthetic development of the capital. In particular, the widening and extension of Nizami Street increases the prestige of the area, creating a revival in the real estate market.
Medianews.az reports that according to economist Vuqar Oruc, these changes will mainly affect the prices of non-residential properties, while there will also be an increase in apartments:
"In the initial stage, prices may rise by approximately 15%, and overall by up to 30%. The project will further expand the 'Targovi' zone, making the area more attractive and active. The increase in pedestrian flow will also expand commercial opportunities."
It should be noted that dense trees were planted on the renovated street to create a "green tunnel" effect, new infrastructure elements were installed, and the surroundings of historical buildings, including the "Fantaziya Bath," were renovated. Within the framework of the project, the "shared street" principle was applied at the surrounding intersections to ensure that pedestrians can move safely and comfortably with all necessary conditions provided.//Milli.Az