The president of the Avesta Group of Companies, Ibrahim Ibrahimov, stated that the Azerbaijan Tower would rise to about 1,051 m (3,448 ft), with 189 floors.[4][5][6]
The $2 billion tower was to have been the centerpiece of the Khazar Islands, a $100 billion city of 41 artificial islands that will spread across 3,000 hectares over land reclaimed from the Caspian Sea.[4][7][8] The city is being planned to house 1 million residents, contain 150 schools, 50 hospitals and daycare centers, numerous parks, shopping malls, cultural centers, university campuses, and a Formula 1-quality racetrack.[4][7][9] All of these facilities are planned to be able to withstand up to magnitude-9.0 earthquakes.[3][9] The city will be equipped with 150 bridges and a large municipal airport to connect the islands to the mainland.[4][7][10]
Ibrahim told reporters that American, Turkish, Arab, and Chinese investors have already shown their interest in the project that will be, in his words, like a "new Venice".[8][11]
Construction on the Azerbaijan Tower was planned to begin in 2015 and be completed by around 2019.[4] However, the project was ultimately cancelled.[citation needed] The Khazar Islands are scheduled to be finished between 2020 and 2025.[10][12][13] Taking into account the scope of the project, some specialists think it will be completed only after 2030.[14]
