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—
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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