Arabs start buying up hotels in Baku to serve their own citizens


January 15, Fineko/abc.az. Arab investors have started buying real estate in Baku.

Vafadar Akhundov, the head of the Association of Realtors of Azerbaijan, has stated that many Arabs display an interest to real estate in Baku, mainly with new buildings and hotels, and even show interest to the conditions of construction of hotels in the capital.

"The proposals are coming mainly from the citizens of Qatar and Iraq, the number of tourists from those countries has been growing recently. They want to serve their tourists at hotels themselves, as most of Arab citizens, visiting Azerbaijan, prefer their cuisine. And this is one of the main reasons," Akhundov said.

He pointed out that Arab investors interest mainly in the main buildings in the centre of Baku, some hotels have already been set out for sale.

"We cannot disclose what precisely of them," Akhundov said.