Panorama by ELIE SAAB: Four Sources, Four Different Unit Counts

Panorama by ELIE SAAB is the most documented project at Sea Breeze. It is Azerbaijan's first branded residence, it has a named fashion house attached, and unlike most of the resort it has a construction contractor with a public project page.

More published material has not produced one number. It has produced four. The project's unit count is 550, 579, 580 or 582 depending on which source you open — and two of those four sources are the companies building it.

Four sources, four counts

Source	What it is	Units	Floors	Area range
Qala Group project page	the construction contractor	580	1 mixed-use + 27 residential + 2 MEP	43–431 m²
Reportage Group project page	the developer	579	27	not published
Sea Breeze catalogue, read 25 Oct 2026	the resort's own listing	550	28	41–381 m²
Nargis Magazine, 18 Nov 2025	launch-period promotional article	582	not published	not published

The spread is 32 units, 5.8% of the lowest figure. On a branded residence this is not a rounding question: 32 apartments at this project's published prices is somewhere between five and thirty million dollars of inventory, depending on which apartments they are.

Which source outranks which

We rank a contractor above a developer and a developer above press, because a contractor is describing a building it has to deliver and a brochure is describing a product it has to sell. On that order, 580 is the best-supported figure, 579 is second, and 582 is a launch-period number from a promotional piece dated 18 November 2025.

550 is the one we can rule out. Listing material for this project publishes a unit mix — 107 one-bedroom junior, 175 one-bedroom, 195 two-bedroom, 93 two-bedroom plus, 8 four-bedroom duplexes and 1 penthouse. That sums to 579, which is why we treat the developer's figure as a real count rather than a round one. We then tested every combination of those six types in code: no subset of the published mix adds up to 550. The Sea Breeze catalogue's figure cannot be an apartments-only count with the duplexes and penthouse removed, and it cannot be any other partial count of the published types either. It is either out of date or wrong.

We did not use that mix as a source for any figure in this guide. It is broker material. We used it only to test 550 against itself, which is a test it fails.

27 floors or 28? That one resolves

The floor conflict looks like the same problem and is not. The contractor's wording is specific: 1st floor (mixed-use) + 27 residential floors + 2 MEP floors.

Figure	Who publishes it	What it counts
27	the developer	residential floors only
28	the Sea Breeze catalogue	residential floors plus the mixed-use ground floor
30	nobody	the full structure including 2 plant floors

So 27 and 28 are both correct about different things, and the number nobody publishes as a floor count — 30 structural levels — is the one that describes the building. At 28 floors on the resort's own count, this is the second-tallest project in the catalogue, behind Reportage Heights at 30 and ahead of Arabian Ranches and Sky Park at 24; our master list carries the full table.

The area range decides whether the rate rises or falls

The two area ranges are not interchangeable, and this is where the conflict stops being bookkeeping. The project publishes a price range of $156,734 to $1,510,529. Bound it both ways, without assuming which apartment is which: nothing costs less than the floor price, nothing costs more than the ceiling, so entry price ÷ smallest area is the least the entry apartment can work out to per square metre, and ceiling price ÷ largest area is the most the largest can.

Area range used	Entry bound	Ceiling bound	Band	Direction
Catalogue, 41–381 m²	$3,823/m²	$3,965/m²	1.04×	rate rises with size
Contractor, 43–431 m²	$3,645/m²	$3,505/m²	0.96×	rate falls with size

Same prices, two published area ranges, and the band flips direction. On the catalogue's areas this is one of only eleven projects in the resort whose per-metre band runs the normal way round. On the contractor's areas it joins the twenty-two that are inverted, where the rate has to come down as the apartment grows.

A buyer cannot be told which. What a buyer can be told is that the difference between those two readings is not small — 13% at the ceiling — and that the developer's own page publishes no area range at all, so the figure the resort lists and the figure the contractor lists have never been reconciled by the company selling the apartments.

The advertised rate is unreachable on either reading

The catalogue advertises from $3,150/m². Both bound tests put that below the entry apartment:

Reading	Entry bound	Advertised	Gap
Catalogue areas	$3,823/m²	$3,150/m²	17.6% below
Contractor areas	$3,645/m²	$3,150/m²	13.6% below
Catalogue median, all 33 projects	—	—	26.5% below

This is the resort's normal condition rather than a quirk of this project — the advertised per-metre figure sits below its own entry apartment in 31 of the 33 projects that publish enough numbers to test, and the only two exceptions are Whitestone Beach and Lighthouse 2. Panorama is one of the 31, and at 13.6% on the contractor's areas it is a milder case than most. The figure is still not a floor, and no page says which apartment it belongs to.

Prices published to the dollar, derived from nothing we can find

$156,734 and $1,510,529 are unusual numbers. Only 4 of the 40 projects in this catalogue publish price endpoints that are not round, and Panorama's are the least round of the four.

We tried to recover where they come from and failed, which is worth saying plainly. We tested every round rate per square metre from $2,800 to $4,600 against both endpoints: none produces a sensible pair of unit areas. We tested conversion from a round manat figure across the full plausible band around the 1.70 peg: at the peg the endpoints come to 266,447.8 and 2,567,899.3 manat, and neither is round at any rate we tried. The ratio between the endpoints is 9.64 and the ratio between the published areas is 9.29, so they are not a single rate applied to both ends either.

So the dollar figures are precise and their derivation is not recoverable from anything published. The practical reading is that these came off a price list computed in another unit or at another date, and were converted once. Ask what that unit and that date were.

Parking is published — just not by Sea Breeze

Across the forty Sea Breeze project pages, none publishes parking, service charges or payment terms. We have said so in every project guide on this site, and for the resort's own pages it remains true.

It is not true of this project. The developer's page publishes 745 parking spaces — about 1.29 per unit on either the 579 or the 580 count — along with 3 swimming pools. The contractor publishes a total built area of 71,756.66 m². None of those three figures appears anywhere in the resort's catalogue.

That is worth generalising. When a Sea Breeze project has a developer with its own site and a contractor with its own project page, there is materially more published about it than the resort lists — see our profile of Reportage Properties and our Brabus Island overview, where the same pattern holds. The resort catalogue is a sales listing, not the full record. For projects without a named contractor, there may be no fuller record to find.

One small by-product: the developer gives this project's address as Nardaran qəs. The resort's masterplan architect has published its client entity as both "Nadaran Invest" and "Nardaran Invest" in different places, and the settlement name is Nardaran — which makes the second spelling the likelier one, without settling the company name.

What to ask

1. How many apartments are in this building? Ask for the figure in writing, and ask them to reconcile it with the 580 the contractor publishes.
2. Which area range is correct, 41–381 or 43–431? This decides whether your price per metre goes up or down with size.
3. What unit and what date produced $156,734? The figure is not round and not reproducible from the published rate.
4. What does the "from $3,150/m²" rate apply to? It is 13 to 18% below the cheapest apartment on both readings.
5. Is 2030 the handover date or the completion date? The catalogue says May 2030; the contractor's page shows 2030 with no label.
6. How are the 745 spaces allocated, and at what price? Published count, unpublished terms.

Sources

• Qala Group, Panorama by ELIE SAAB project page, qalagroup.az/en/az-az/projects/panorama-by-elie-saab, read 1 November 2026 — role given as "Construction"; 580 residential units; unit sizes "From 43 m² to 431 m²"; "1st floor (mixed-use) + 27 residential floors + 2 MEP floors"; total area 71,756.66 m²; 2030 shown unlabelled; client given as "Panorama by Elie Saab". No contract value, start date or site area published.
• Reportage Group, Panorama project page, reportagegroup.com/projects/residential-apartments/panorama/, read 1 November 2026 — 579 units, 27 floors, 745 parking spaces, 3 swimming pools, unit mix given only as "2 to 4 BDR + Penthouse", address "Panorama by ELIE SAAB, Nardaran qəs., Sea Breeze, Baku, Azerbaijan", sales status "Available". No area range, completion date, price or site area published. The page shows "Reportage" as its logo and "Reportage Properties" in its copyright line.
• Sea Breeze catalogue, seabreeze.az/en/real-estate/panorama-by-elie-saab-2, read 25 October 2026 and held in .claude/seo/data/seabreeze-official-2026-10-25.csv — 550 apartments, 41–381 m², 28 floors, May 2030, in construction, fit-out, $156,734 to $1,510,529, from $3,150/m², 7.7 ha, first coastline. The same file is the source of the comparative counts below. The domain has returned 403 to us since 30 October 2026, so these figures cannot currently be re-read at source.
• Comparative counts, computed in code against that file on 1 November 2026 — 33 of the 40 projects publish a price range, an area range and a rate per metre; 31 of those 33 advertise a rate below their own entry apartment, median 26.5% below; 22 of the 33 produce an inverted per-metre band; 4 of the 40 publish non-round price endpoints; 28 floors ranks second behind Reportage Heights at 30.
• Nargis Magazine, "Sabah Investment Group, Reportage Group and ELIE SAAB present Azerbaijan's first branded residence", dated 20 November 2025 with an 18 November 2025 Dubai dateline, read 1 November 2026 — "With 582 residences"; names Sabah Investment Group and Reportage Group as joint venture partners with ELIE SAAB as branding partner; ELIE SAAB Maison designs the interiors, with furniture made in Italy with Carlo Colombo under licence from Corporate Brand – A++ Group. Treated as promotional material and used only for the 582 figure, the partnership and the interiors attribution.

Not verified: the unit count — four sources give four figures and we rank rather than resolve them; which area range is correct; how $156,734 and $1,510,529 were derived; what the 2030 date on the contractor's page refers to; whether the 745 spaces are included in a purchase; the service charge and payment terms, which no source publishes; and the client company's registered name. The unit mix used to test the 550 figure comes from broker listing material and is not used as a source for any figure here. No broker listing is used as a source anywhere above.