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. The $2 billion tower was to have been the centerpiece of the Khazar Islands, a $100 billion city of 41 artificial islands that was to have spread 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.