SOFAR representatives study commercial property market of south-eastern Asia

At the end of November 2012 representatives of SOFAR will visit the South-Eastern Asia, SOFAR Executive Director Shakhmar Movsumov told journalists.

He said during the visit it is planned to visit such countries as Malaysia, Indonesia and Hong Kong. The goal of the visit is to study investing of part of the Fund's assets into the commercial property in these countries. "Our strategy is to diversify the investment portfolio and we will invest into immovable property abroad," said SOFAR Executive Director.

He added that SOFAR does not hide that it is interested in buying property in big cities, such as Moscow, London, Istanbul, Paris and etc. "We do not disclose details of the deals till their closing," Movsumov said and refused to provide more information about buying building of Art Gallery trade centre in Moscow by SOFAR.

At the end of October Russian Izvestiya newspaper said that SOFAR is among the pretenders to purchase of the Art Gallery in the Moscow centre. Approximate cost of the building is $5 million.--0--