Azerbaijan, UAE to develop multi-billion-dollar project at lake Boyukshor

Baku will see the creation of a new modern coastal district around Lake Boyukshor under a multi-billion-dollar urban development initiative, Azerbaijani Economy Minister Mikayil Jabbarov announced.

According to the minister, the flagship “City within a City” project aims to integrate healthcare, commercial, educational, and hospitality facilities, Caliber.Az reports per Jabbarov’s post on X. 

At the 1st #Azerbaijan International #Investment Forum, in the presence of Samir Sharifov, Deputy Prime Minister of the Republic of Azerbaijan, and Mohammed Hassan Al Suwaidi, Minister of Investment of the United Arab Emirates (@Inv_UAE), a cooperation agreement was signed with… pic.twitter.com/9MSRcQmvI6

— Mikayil Jabbarov (@MikayilJabbarov) September 22, 2025

The cooperation agreement was signed during the 1st Azerbaijan International Investment Forum in the presence of Deputy Prime Minister of Azerbaijan Samir Sharifov and UAE Minister of Investment Mohammed Hassan Al Suwaidi. 

The deal was concluded with Jassem Al Zaabi, Chairman of Modon Holding, which will spearhead the project.

By Sabina Mammadli