Value of real properties, belonging to SOFAZ and located abroad, approaches USD 1.5 bln.
  • ECONOMY

  • 13:30 31 October 2019

Value of real properties, belonging to SOFAZ and located abroad, approaches USD 1.5 bln.

Value of the office and trade complexes, belonging to State Oil Fund of the Republic of Azerbaijan and located in foreign countries, is USD 1 477,6 mln., ONA reports citing SOFAZ.

The Fund has invested in office and commercial complexes in several important cities of Europe such as London, Moscow, Paris, and Milan, as well as Seoul and Tokyo cities of Asia since 2011.

Despite all of them, the SOFAZ has sold "A" class office-building of “Palazzo Turati” with total area of 10 360 sq. meters, situated in historical center of Milan and bought by the Fund in 2016, for the price of 112 mln. euros to Invesco Real Estate Management Sarl”.

Kirarito Ginza trade facility consists of 78 St James Street, London, UK for GBP 177.4 million (USD 285.6 million), Actor Gallery, Tverskaya 16, Moscow, Russia for USD 133 million, 8, Place Vendome, Paris, France for EUR 135 million (USD 180 million), 203 Euljiro2-ga, Jung-gu, Seoul, South Korea for USD 447 million, Chou Avenue, Ginza, Tokio, Japan for JPY 52.3 billion (USD 432 million) is currently included to the fund's investment portfolio.

Emil Ismayilov

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