The cost of property acquired by the State Oil Fund of Azerbaijan (SOFAR), and the rent for it last year increased significantly.
According to the annual report, the most attractive investments in real estate are in Moscow, Paris and London. Recall that in 2012 SOFAR purchased for $ 133 million retail and office center "Gallery Actor", located in the center of Moscow at 16 Tverskaya. Moreover, for 177.35 million pounds bought an office complex in west London (London's West End) 78 St James's Street and € 135 million complex of offices and facilities for trade, in Paris at 8 Place Vendôme.
According to the fund, as of 1 January this year, the cost of an office complex in London was estimated at 188 million pounds (+ 10.65 million to the initial price). The cost of real estate in Paris by the same date was 136.1 million euros (1.1 million), and the Moscow - $ 133.24 million (+ $ 240 million).
Fund Board estimated rental income from the use of property in London at 9.65 million pounds, in Paris - 4.5 million euros in Moscow - $ 11 million. -17D-
Economics
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In a strategic move to bolster mechanisms against financial crimes and terrorism financing, Azerbaijan's Deputy Prime Minister, Samir Sharifov, has been appointed as the head of the newly restructured Coordinating Council on Counter-Terrorism Financing and Other Financial Crimes.
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The Chairman of Azerbaijan Railways CJSC, Rovshan Rustamov, and the head of Iranian Railways, Jabbar Ali Zakeri Sardrudi, convened in Tehran during the Joint Azerbaijani–Iranian Intergovernmental Commission meeting to bolster cooperation on the Astara terminals, key nodes in the International North-South Transport Corridor (INSTC). The talks centered on enhancing the operational efficiency and strategic significance of these terminals to facilitate growing cargo volumes between the two nations.
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Azerbaijan is accelerating its transition to green energy through the coordinated efforts of its "Green Energy Zone" task force, which recently held its latest hybrid meeting to review progress and outline future priorities. The Ministry of Energy, reporting on Wednesday’s session, emphasized the task force's central role in implementing the 2022–2026 Socio-Economic Development Strategy, a cornerstone of Azerbaijan’s ambitions for sustainable growth.
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AzerGold, Azerbaijan’s state-owned mining company, is pursuing opportunities for strategic collaboration with Turkish firms in Africa as part of its efforts to expand its presence in the global mining sector. Recent talks between Zakir Ibrahimov, Chairman of the Board of AzerGold CJSC, and Şebnem Cenk, Head of the West and Central Africa Department at Turkey's Ministry of Foreign Affairs, highlighted the potential for a mutually beneficial partnership.
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