The Business Year

Babak Babayev

AZERBAIJAN - Real Estate & Construction

Happy Living

Founder, Yeni Hayat

Bio

Babak Babayev was born in 1970 in Nakhchivan. Between 1991 and 2001, he worked in the Russian private sector before returning to Azerbaijan in 2002 and founding Yeni Hayat.

What is the history of Yeni Hayat in Azerbaijan and what has your involvement in the company been? Yeni Hayat was founded in 2002. I believe we have managed to […]

What is the history of Yeni Hayat in Azerbaijan and what has your involvement in the company been?

Yeni Hayat was founded in 2002. I believe we have managed to set up one of the leading companies in the construction sector by establishing high-quality standards. Back in 2002, we were only building residential houses. Now we are a part of a large group of companies and develop more sophisticated and unique architectural projects. Yeni Hayat has always collaborated with leading European companies, and thus obtained extensive experience with advanced technology that has been implemented in our projects. Yeni Hayat was named as such because construction is not only a business for us; it is also a new life and mindset. Every building we have constructed has left an imprint on our city because of its architectural concept and remains a heritage for future generations.

What are some of the most notable achievements of Yeni Hayat?

Yeni Hayat is trying to carry out both architecturally and functionally more interesting activities. There is a global public reaction to our magnificent and unique buildings, hospitals, schools, Olympic and sports facilities, and concert halls. We try to ensure that every facility we build becomes an identity of quality and beauty. Overall, 2012 was extremely successful for us. Our latest project, and source of great honor for us, is Azure, a 141,000-sqm facility that includes residential buildings, business and trade centers, and the largest indoor family entertainment center in Europe. Another great accomplishment is Megafun, which is also an entertainment center.

What are your plans for 2013 moving forward?

Several opportunities exist for large-scale projects today. We will seize any available opportunities and work on the creation of similar family entertainment centers in various regions across Azerbaijan in 2013. In the near future, Megafun will expand into Russia, Turkey, Georgia, and Kazakhstan. We are reviewing all cooperation proposals.

“The ongoing development of the construction sector has had a positive effect on the sectors that provide raw materials.”

How did the idea of supporting the Azerbaijan Olympic team come about?

Sports have become a visiting card of Azerbaijan, something that promotes the country abroad. We are very happy that sports are highly developed in the country. Culture and sports cannot develop without strong public support. I think our people are happy because the country is led by someone who goes beyond just helping and supporting sports and athletes. The President has devoted a lot of care to this area. I have been working in close contact with athletes for many years, and I say with confidence that the achievements of athletes are not valued as highly anywhere else in the world as they are here in Azerbaijan. We view our esteemed President as an example in both our business activities and in all other spheres of life. Therefore, we are trying to provide any help we can to the athletes, whose mission is to promote our country around the world.

How would you evaluate the importance of the construction sector in Azerbaijan?

The ongoing development of the construction sector has had a positive effect on the sectors that provide raw materials and contributed to the production and trade of various long-term consumables. Since the beginning of the 20th century, there have been large-scale developments within the construction sector, and dozens of residential buildings and facilities that were built and commissioned over the years are now protected and preserved in order to retain their architectural heritage. In more recent years, hundreds of high-rise apartment buildings meeting international and EU standards were built and commissioned.

How has the economic development of the country progressed over the past decade?

The socioeconomic reforms under the leadership of President Ilham Aliyev have fostered the country’s development. Economic strategies pursued by the leadership of the country provide sustainable economic growth and simultaneously improve the welfare of the Azerbaijani people. Socioeconomic indicators over the last decade show that our country managed to remain unaffected and provide opportunities for long-term development. Azerbaijan has taken confident and successful steps toward the further liberalization of the economic system and a strong diversification policy, as well as the effective use of the abundant natural resources and regional capacity.

What are the medium-term plans for your company?

Our primary mission is to strengthen our influence in the construction sector of the Caucasus and Eurasian regions by participating in important regional projects. Our goal is to become an internationally competitive company working beyond the borders of Azerbaijan.

Yeni Hayat has been active in its support for Azerbaijan’s athletes. How did the idea of supporting the Olympic team come about?

Sport has become some kind of a visiting card for Azerbaijan, something that promotes the country abroad. We, the people of Azerbaijan, are very happy that sport is highly developed in this country. However, it is also true that culture and sport cannot develop without strong public support. From this point of view, I think our people are twice as happy because the country is led by someone who goes beyond just helping and supporting sports and athletes. The President has surrounded this area with truly parental care. I have been working in close contact with sportsmen and women for many years. And I say with confidence that their achievements are not valued as highly anywhere else in the world. Nowhere else is there such care and attention to sport and sportsmen and women. We view our esteemed President as an example in both our business activities and in all other spheres of life. Therefore, we are trying to provide any help we can to our sportsmen and women, whose noble mission is to promote our country abroad.

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