The Apsheron peninsula jutting East into the Caspian is the heart of Azerbaijan. Baku, the country’s capital, founded two thousand years ago, is located on the southern shore of the Apsheron peninsula. The city became important after an earthquake destroyed the older capital Shemakha in the IX century and the Shirvanshah, Ahistan I, made Baku the new capital. There are a few theories about the origin of the name, the most widely known being that Baku comes from bade kube, meaning "city of winds". For two and a half thousand years the Apsheron peninsula has been famous for its petroleum springs. Historical evidence shows that for over a thousand years its oil has been exported in trade with surrounding nations; and to this day it remains Azerbaijan’s most important oil producing area alongside the offshore installations in the Caspian.
Baku is located in the southern part of the peninsula, which is where major industries are concentrated, while the cleaner northern coast offers excellent opportunities for Costa-style beachfront living within a half-hour drive of the capital’s offices, shops and excellent restaurants. Apsheron is a densely populated area with rapidly developing modern infrastructure. With increasing demand for land in the area fuelled by the country’s growing wealth from oil exports and finite availability, the land prices have been rising rapidly in the last three years and are poised for a further rapid growth offering an excellent opportunity for investment. |
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