Apartment Acquisition

ASCO has incorporated “Denizchi” Cooperative Building Society and started to construct a residential complex by providing a voluntary social project for the purposes of ensuring the persons, who were house queued and in need of improvement of accommodation conditions in accordance with former USSR legislation, to obtain apartments under the favourable conditions. Moreover, ASCO approved a single housing queue list based on the queue listы existing at the entities that  ASCO is considered to be successor thereof.

The “Guidelines on the becoming a member of “Denizchi” cooperative Building Society”  were approved jointly  by ASCO and the Trade Union Committee of the Maritime Transport Workers of the Republic of Azerbaijan for the purpose of the regulation of the issues associated with persons` house queued and in need of improvement of accommodation conditions becoming a member  of the Cooperative Building Society and other matters related thereof.    At the same time, the Commission on Housing Affairs, the composition was formed by ASCO’s relevant employees, veteran seafarers, representative of the Trade Union Committee of the Maritime Transport Workers of the Republic of Azerbaijan, an independent expert and a lawyer, has been established. The Commission was established to consider the cases associated with the issue membership of the ” “Denizchi” cooperative Building Society, as well as review existing housing records, to investigate documents related to membership applications, and to make relevant decisions on those who need housing improvements. Compensation (facilitated conditions) for persons entitled to obtain an apartment is determined depending on the period of their being registered in the housing queue. The amount of the compensation, in other words, the fraction amount of the value of the apartment to be paid by ASCO has been approved by the order of the Management Body of ASCO.