The Azerbaijan Tower, envisioned by Avesta Group of Companies' President Ibrahim Ibrahimov, was proposed to reach a height of approximately 1,051 meters (3,448 feet) with 189 floors. This $2 billion tower was slated to be the focal point of the Khazar Islands, a grand $100 billion city consisting of 41 artificial islands spanning 3,000 hectares reclaimed from the Caspian Sea. The city's extensive plans included accommodations for 1 million residents, 150 schools, 50 hospitals, parks, shopping malls, cultural centres, university campuses, and a Formula 1 quality racetrack, designed to withstand earthquakes up to magnitude 9.0. The ambitious project garnered interest from American, Turkish, Arab, and Chinese investors, aiming to create a "new Venice.
Initially scheduled for construction commencement in 2015 and completion around 2019, the Azerbaijan Tower project was later cancelled. The Khazar Islands, expected to be finalized between 2020 and 2025, face speculation among specialists, with some estimating completion potentially extending beyond 2030 due to the project's magnitude.
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