Price increases for European property acquired by SOFAR

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-

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