The president of the Avesta Group of Companies,
Ibrahim Ibrahimov, stated that the Azerbaijan Tower would rise to about , with 189 floors. 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. 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. The city will be equipped with 150 bridges and a large municipal airport to connect the islands to the mainland. 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". Construction on the Azerbaijan Tower was planned to begin in 2015 and be completed by around 2019. The Khazar Islands are scheduled to be finished between 2020 and 2025. Taking into account the scope of the project, some specialists think it will be completed only after 2030. ==See also==