SOFAZ plans to buy property in Japan

SOFAZ plans to invest into the property in Japan, said SOFAZ Executive Director Shakhmar Movsumov.

He said prior to that SOFAZ bought the office building Pine Avenue Tower A in Soul worth $447 million. According to SOFAZ, the building was fully leased to S&K Group, one of the biggest conglomerates in South Korea. Annual net rental fee for the building is $23.4 million.

First time SOFAZ invested into the property in 2012 and bought the office building in West End of London for 177.35 million pounds. In 2012 SOFAZ also bought a building in Paris for 135 million Euro. The last acquisition of SOCAR was the shopping and office centre Actor’s Gallery at the Pushkin Square in Moscow for $133 million.

By April 1, 2015 SOFAZ’ assets dropped by 5.86% against early 2015 ($34,104,100) and totaled $34,930,500.

SOFAZ was created on December 29, 1999, but it actually started its work in June 2001 and that time its assets totaled $271 million.—0—